709 billion TL payment was made by credit card

According to the data of the Interbank Card Center, 709 billion TL of card payments were made in the first half of the year, while online card payments reached 188 billion TL with an increase of 77 percent.

Interbank Card Center (BKM) announced the card payment data for the first half of the year. Accordingly, card payments continue to be preferred in all areas of life.

Payments can be made with cards in many areas, from taxes to individual pension payments, from e-commerce that offers remote shopping, to insurance payments and even donation payments. As a result, card payments, which eliminate the hassle of contact and change, save time and make daily life easier without the need to carry cash, are becoming more and more common.

TOTAL NUMBER OF CARDS WAS 271.3 MILLION

According to BKM data, as of the end of June, 79.8 million credit cards, 141.5 million debit cards and 50 million prepaid cards are used in Turkey. Compared to June 2020, the number of credit cards increased by 11 percent, the number of debit cards by 3 percent, and the number of prepaid cards increased by 43 percent. The total number of cards reached 271.3 million, an increase of 11 percent compared to the same period of the previous year.

CARD PAYMENTS INCREASED 42 PERCENT

In the first half of the year, the total amount of payments made with credit cards, debit cards and prepaid cards increased by 42% compared to the same period of 2020 and reached 709 billion TL.

In the second quarter of 2020, the slowdown in card payments (base effect) along with the measures taken during the busy days of the epidemic was also effective in the high growth in card payments.

In the first six months of the year, 588.6 billion TL of card payments were made with credit cards, 111.5 billion TL with debit cards and 9.2 billion TL with prepaid cards.

Compared to the same period of 2020, the growth rate in credit card payments was 40 percent, while in debit card payments 47 percent, this rate was 236 percent in payments made with prepaid cards. The base effect played a role in these growth rates.

The sectors with the highest increase in card payments in the first six months of 2021 compared to the same period of the previous year were public/tax payments with 78 percent, and the jewelery sector with 77 percent.

The accommodation and airlines sector, which also declined in terms of card payments last year, was among the sectors with the highest increase this year, with 74 percent and 73 percent growth, respectively, along with the normalization process. The construction materials sector, on the other hand, was another sector with the highest increase with a growth of 68 percent.

THE FAST RISE CONTINUES IN INTERNET CARD PAYMENTS

While digital transformation continues rapidly, online card payments, which have become an indispensable part of life, continued to rise rapidly. In the first six months of 2021, a total of 188 billion TL of online card payments were made. Accordingly, online card payments grew by 77 percent compared to the first six months of 2020.

It was observed that internet card payments, which made up 21 percent of total card payments in the first six months of last year, increased their share in the first six months of this year and took a share of over 25 percent from total card payments.

NUMBER OF CONTACTLESS PAYMENTS MADE IN THE FIRST HALF OF THE YEAR REACHED 3X THE NUMBER OF LAST YEAR

In contactless payments, which continues to rise with its fast, easy and hygienic nature, the number of transactions in the first half of 2021 tripled compared to the same period of the previous year and reached 1.47 billion. 2 While a total of 1.73 billion contactless payments were made last year, almost as many contactless payments were made in the first 6 months of 2021 as last year’s total.

The share of contactless payments in in-store payments rose to 48 percent. This rate was 22 percent in the same period of last year. In this development, it was shown that contactless payments have become one of the indispensable payment tools of life. Contactless payments are now preferred in 1 out of 2 in-store card payments.


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Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.

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