Accept payments in Turkey
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Turkish Payment Market Overview
Turkey occupies a unique position, sitting in both the European and Asian e-commerce markets. However, the Turkish e-commerce space is estimated to be worth $11.6 billion, and accounts for a relatively small share of overall retail spend in Turkey, at just 4.1 percent. From this low baseline, the country’s e-commerce market is expected to grow at a rapid compound annual growth rate of over 10 percent.
The government has committed to boosting the country’s access to high-speed digital technology, which has resulted in improved internet speeds and a growth in good-quality information and communications technology infrastructure. Turkey’s position as a gateway between Europe and the Middle East could help drive further international investment and growth in its e-commerce industry, as it can act as a regional hub for international delivery players.
Payment Methods in Turkey
Key Market Indicators in Turkey
Banks in Turkey
Mobile Carriers in Turkey
Integrate Turkish Payment Methods
Card is the dominant payment method when shopping online in Turkey, used for 64 percent of online transactions totaling $7.42 billion in annual sales. Debit is preferred over credit in Turkey, with 1.63 debit cards per capita, compared with 0.77 credit cards per capita. When it comes to a preferred card brand with which to shop online, Turkish consumers tend to treat Visa and Mastercard equally.
This adoption of specific payment methods in Turkey will inevitably be influenced by the fact that a large proportion of Turkish citizens remains without a bank account – just over a third of the population is unbanked. The use of cash is particularly prevalent for ‘micropayments’ – small, daily expenditures such as newspapers, taxi journeys and coffees.
|E-commerce market size||$11,6 billion|
|Internet penetration rate||43%|
|Mobile penetration rate||72%|
|Cellular technology standard||4G, 5G|
|Dual sim usage||8.33%|
|Popular mobile OS||Android|
|Big Mac Index||2.21|
|Average annual income||$3,721.7|