Card Payments Hit Record: June 2024 Reaches 2.9 Trillion Lira

Turkey's card payments surged to a record level in June 2024, with the total amount climbing to 2.9 trillion lira.

Card Volume and Growth Dynamics

■Credit cards numbered 150.4 million (+%11), debit cards 221.6 million (+%3), and prepaid cards 99.7 million (-%4).

■The aggregate card count reached 471.7 million, a %4 increase versus the same period last year.

Dual Surge in Payment Values

■Card payment volume hit 2,867.7 billion lira (+%50); of this, 2,463.7 billion lira came from credit cards, 396.2 billion lira from debit cards, and 7.8 billion lira from prepaid cards.

■Payment value rose %53 for credit cards, %37 for debit cards, while prepaid cards saw a %35 decline.

■The number of card transactions climbed to 1.9 billion (+%14), with 1.132 billion from credit cards, 776.3 million from debit cards, and 34.9 million from prepaid cards.

E‑Commerce and Contactless Payment Trends

■Online card payments amounted to 891.6 billion lira (+%60), representing %31 of the total.

■The count of online card transactions rose to 260.7 million (+%17), accounting for %14 of all payments.

■Contactless transactions reached 1,300.7 million (+%13) with a value of 939.3 billion lira (+%45); four out of every five in‑store card payments were contactless.

Fatih Kılıç: The card payment ecosystem is accelerating the transformation of financial services, driven by rapid growth in contactless and digital channels. The robust rise in credit‑card usage signals improving consumer purchasing power, while the decline in prepaid cards reflects competitive pressure from low‑fee alternatives. These dynamics open new liquidity and risk‑management opportunities for payment infrastructure providers and bank balance sheets.