Card payments soar in H1 amidst COVID-19

Triggered by COVID-19, contactless payments tripled and reached 563 million

Payments via debit and credit cards in Turkey increased 10% year-on-year in H1 of this year amidst concerns of COVID-19, according to Interbank Card Center (BKM).

“While payment behavior continues to change with the pandemic period, a total of 500 billion Turkish liras [$77 billion] payment was done via cards in January-June,” the BKM emphasized in a statement.

The number of card payments went higher the most in the consumer electronics and markets-food sectors with 43% and 33%, respectively, compared to the same period of 2019.

Total number of cards passed 240 million

It was followed by public payments, such as taxes and fines with 20%, construction equipment with 16% and insurance with 14%, the data said.

The total value of online credit card payments in Turkey increased 24% annually to 107 billion Turkish liras (around $16.5 billion) in the first six months of this year.

Online payments accounted for 21% of total card payments in the January-June period, up from 18% as compared to last year.

Also triggered by COVID-19 concerns, the number of contactless credit, debit and pre-paid card transactions tripled and reached 563 million during the same period of the year.

BKM noted the number of credit cards hit 71.9 million, while 172.9 million debit cards were in use in Turkey by the end of June.

Would you like to support TR Technews?

Hi everyone,
I’m running Turkishtechnews.com, a website on tech developments from Turkey. I will be covering subjects ranging from startups to gadgets, digital economy to social media. I’m keen on new technologies as well. On top of those, I’m interested in drama and cinema, with one short and one long film script and three plays. Holding a B.A degree in English Language and Literature, I’m a tech journalist with 15 years of experience.

The reason why I’m here is to produce good quality journalism and try to remain independent as much as possible. Currently, journalism is torn between vague relationships between brands and journalists, not only in Turkey but also globally. Under such circumstances to remain independent is crucial and I need your support to do so.

Leave a Reply

Your email address will not be published. Required fields are marked *

About   l   Contact Us