Forecast: Number of Cards with a Payment Function in Turkey

The number of cards with a payment function in Turkey has shown fluctuating growth from 2013 to 2023, standing at 230.83 million units in 2023. The market illustrated periods of robust growth, such as in 2017 with a significant 10.37% increase, and notable declines, like in 2020 with a decrease of 15.06%. The average annual growth rate over the last five years was 1.65%.

From 2024 onwards, the forecast indicates a steady upward trajectory, with an average annual growth rate of 1.56%, culminating in an 8.05% increase by 2028. The anticipated growth reflects stable market confidence, although at a moderate rate.

Future trends to watch for include:

• Technological advancements in payment systems influencing the market dynamics.
• Increasing adoption of digital payment methods potentially impacting the traditional card segment.
• Regulatory changes that might affect issuance and usage patterns of payment cards.