Forecast: Number of Cards with an E-money Function in Turkey

The number of cards with an E-money function in Turkey has experienced significant growth from 2013 to 2023, reaching 31.74 million units in 2023. This growth is marked by fluctuating year-on-year variations, with notable peaks such as a 94.68% increase in 2014 and a decline by -11.89% in 2020. Recent trends highlight a modest increase, with a 4.9% rise in 2023. The last 5-year compounded annual growth rate (CAGR) stands at 4.16%, highlighting a deceleration in growth compared to previous periods.

Looking forward, the forecast from 2024 to 2028 indicates continued growth, albeit at a slower pace, with a 5-year CAGR of 3.41% and an overall growth rate of 18.23%. The total number of cards with E-money function is expected to reach 39.58 million units by 2028. This suggests a stabilization phase following a period of rapid adoption and adjustment fluctuations.

Future trends to watch for include technological advancements in E-money functions, regulatory changes impacting digital payments, and consumer behavior shifts towards alternative payment methods. As these factors evolve, they will shape the trajectory of growth in the E-money sector in Turkey.