Shopping by credit card increased by 127 percent – Last Minute Economy News
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BKM announced its data for 2023. Accordingly, compared to the previous year in 2023, there was an increase of 18 percent in the number of credit cards, 12 percent in the number of debit cards and 26 percent in the number of prepaid cards.
As of 2023, the number of credit cards in Turkey was 117.7 million, the number of debit cards was 189.5 million and the number of prepaid cards was 90 million. The total number of cards exceeded 397 million, increasing by 17 percent compared to the same period last year.
PAYMENTS BY CREDIT CARD INCREASED BY 127 PERCENT
The growth rate in payments made by credit card compared to the previous year was 127 percent, and in payments made by debit card it was 103 percent, while this rate was recorded at 115 percent in payments made by prepaid cards.
While 6 trillion 699 billion liras of card payments were made with credit cards, 1 trillion 399 billion liras were made with debit cards and 142.6 billion liras were prepaid cards.
The total amount of payments made with credit cards, debit cards and prepaid cards in 2023 increased by 122 percent compared to the same period of the previous year and reached 8 trillion 241 billion lira.
MORE THAN 1 LIRA OF EVERY 4 LIRAS WAS MADE ON THE INTERNET
Online card payments increased by 130 percent to 2 trillion 365 billion liras in 2023. The share of online card payments in total reached 28 percent. Thus, “more than 1 lira” of every 4 liras in last year’s payments was made online.
The number of contactless payments made with cards increased by 41 percent compared to last year, reaching 9.36 billion, and the amount of contactless payments made with cards increased by 151 percent compared to last year, reaching 2 trillion 269 billion lira. In 2023, approximately 3 out of every 4 in-store card payments were made contactless.
While 37 percent of the 8.24 trillion lira payments made with cards last year were made by in-store contact payment method, 36 percent were made by online or mail/telephone sales (mo/to) method, and 27 percent were made by contactless payment method.
While 3.03 trillion lira of the total card payments were made by in-store contact payment method, 2.94 trillion lira were made by online or mail/telephone sales (mo/to) method, and 2.27 trillion lira were made by contactless payment method.
THE MOST CARD-BASED SHOPPING WAS DONE ON NEW YEAR’S NEW YEAR
Last year’s “best” highlights of the card payments ecosystem are listed as follows:
In 2023, the highest card payment amount was made for New Year’s shopping on December 29, with 48.8 billion lira.
The highest card cash withdrawal amount was 19.1 billion lira, on April 17, before the Eid al-Fitr.
On December 30, a daily contactless payment record was broken with 33.5 million transactions made with 16.5 million cards for New Year’s shopping.
While the day with the highest amount of card payments during the year was Mondays, the time interval was 15.00-16.00.
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