Forecast: Number of Payments by Cards with a Credit Function in Turkey

Turing back to 2023, the number of payments by cards with a credit function in Turkey stood at 4.45 billion. Following substantial growth in 2021 (31%) and a slight decline in 2022 (-1.56%), 2023 showed a moderate increase of 3.18%. Over the last two years, notable fluctuations were evident, particularly the sharp rise in 2021 and subsequent stabilization. Additionally, the average growth over the past five years recorded a CAGR of 2.98%.

Looking towards the future, from 2024 to 2028, forecasted trends suggest a gradual increase with a five-year CAGR of 2.33%, translating to a total forecasted growth rate of 12.22% over the period. The projected figures point towards more stable and sustained growth compared to the previous years.

Future Trends to Watch For:

• Impact of digital payment innovations and how they might influence credit card usage.
• Economic factors, including inflation and GDP growth, which could affect consumer spending behavior.
• Regulatory changes and their potential implications on the credit card market.
• Adoption of alternative payment methods such as mobile wallets and their potential to disrupt traditional credit card usage.