Turkey has most banking cards in Europe
There are a total of 214 million banking cards, including debit and credit cards, in Turkey that puts the country ahead of any nation in Europe, according to the deputy general manager of the Interbank Card Center (BKM).
“As of end-2018, there were 148 million debit cards and 66 million credit cards in the country. In terms of the number of such cards, Turkey has overtaken the U.K. and Germany,” Cenk Temiz told state-run Anadolu Agency.
According to the latest official data, Turkey’s population is a little more than 82 million.
Temiz also noted the share of card payments in consumption expenditures is 38 percent today, while the corresponding figure was some 15 percent 10 years ago.
“In January last year the size of the payments through credit cards stood at 54 billion Turkish Liras [$10.2 billion], while in the first month of 2019, expenditures through cards amounted to 62 billion liras, some 15 percent increase on an annual basis. Payments through banking cards increased to 71 billion liras in January this year from 61 billion liras a year ago,” Temiz said.
Temiz also noted that some 18 percent of payment through cards was made online.
The delinquency rate on credit cards was 6 percent versus 6.4 percent in January last year, while the non-performing loans to total loans ratio in the banking industry was 3 percent, up from 2.7 percent in January last year.
The watchdog increased the number of installments in the purchases of vacations and computers —excluding tablets — to 12 months from the previous nine and six months, respectively. Under the new regulations, consumers will be able to pay for health-related expenditures in 12-month installments on their credit cards.