We spent 500 billion liras on the card!

According to the data announced by the Interbank Card Center (BKM), there are 71.9 million credit cards and 172.9 million debit cards in Turkey as of the end of June. Accordingly, compared to June 2019, there was a 6 percent increase in the number of credit cards and an 11 percent increase in the number of debit cards. The total number of cards reached 245 million, increasing by 9 percent compared to the same period last year.

Today, payments can be made with cards in every aspect of life, from taxes to private pension payments, from e-commerce that allows 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 our daily lives easier without having to carry cash on us, are becoming increasingly common.

While payment behavior continues to change with the impact of the pandemic period, a total of 500 billion TL was paid with cards in the first six months of 2020. This value indicates a total growth of 10 percent in card payments compared to the same period of the previous year. However, when the first six months of 2020 are compared with the same period of 2019, it is seen that the annual growth in payments made by debit cards reached 32 percent.

The sectors where card payments increased the fastest were the electronic goods and grocery sectors.

When we examine in detail in which sectors the highest increase in card payments took place in the first six months of 2020 compared to the same period of the previous year, it is seen that, together with the effect of the change in individuals’ living conditions on card payments during the pandemic period, the increase in “electronic goods”
It is seen that growth of 43 percent, “market-food” with 33 percent, “public/tax payments” with 20 percent, “building materials” with 16 percent and “insurance” sector with 14 percent growth.

Online card payment amount increased by 24 percent to 107 billion TL

While digital transformation continues rapidly, online card payments, which have become an indispensable part of our lives during the pandemic period, continued their rapid rise. According to BKM data, a total of 107 billion TL worth of online card payments were made in the first six months of 2020. Accordingly, there was a 24 percent increase in online card payments compared to the first six months of 2019. Again, it was observed that online card payments, which constituted 18 percent of total card payments in the first six months of 2019, increased their share and reached 21 percent in the first six months of this year. According to this trend, it is predicted that 1 TL of every 4 TL card payment will be made online by the end of 2020.

The number of contactless payments made in the first 6 months of the year exceeded the total of 2019

In contactless payments, which have been on the rise recently due to being fast, easy and hygienic, the number of transactions in the first half of 2020 tripled compared to the same period last year and reached 563 million. Considering that a total of 502 million contactless payments were made in 2019, the total number of contactless payments made in the first 6 months of the year was surpassed last year. The share of contactless payments in in-store payments increased to 22 percent. The fact that this rate reached this level, which was 7 percent in the same period last year, shows that contactless payments have become one of the indispensable payment tools in our lives, and contactless payments are now preferred in 1 out of every 5 in-store card payments.

Source: https://www.dunya.com/ekonomi/karttan-500-milyar-lira-harcadik-haberi-475616

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