Forecast: Value of Payments by Cards with a Debit Function in Turkey

The value of payments by cards with a debit function in Turkey has shown a consistent upward trend from 2013 to 2023, with some notable fluctuations. In 2020, there was a significant drop of 13.78% due to unforeseen economic disruptions, but the market quickly rebounded with a 31.14% increase in 2021. As of 2023, the value stands at $23.29 billion USD, marking a 3.28% year-on-year increase. Over the past five years (2018-2023), the Compound Annual Growth Rate (CAGR) was 3.45%.

Looking ahead, forecasted data from 2024 to 2028 predicts a slower but steady growth, with an estimated 2.4% CAGR and an overall increase of 12.56%. By 2028, the value is expected to reach $27.22 billion USD.

Future trends to watch for include:

• A shift towards digital and mobile payments, possibly affecting debit card usage patterns.
• Economic factors such as inflation and monetary policy impacting consumer spending.
• Technological advancements and regulatory changes that could influence transaction volumes and values.