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The data released by the Interbank Card Center reaffirmed that cash usage decreased and card payments have a growth trend. On the other hand, the tendency of users to use comparison platforms when choosing a credit card increased by 25%.

** This release is originally published in Turkish.

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TURKEY - The October 2022 card statistics report published by the Interbank Card Center (BKM) once again revealed that the number of cards increased, card payments grew and cash usage decreased. According to the report, the number of credit cards in Turkey reached 96.8 million approaching 100 million. On the other hand, the increase in the number of credit cards was 17% compared to a year ago. In 2022, the increase in the total amount of payments made by credit cards was 123%, and approximately 300 billion TL was paid with credit cards. The growth in credit cards was also reflected in the data of credit card comparison platforms.

Sharing his evaluations on the subject, Orhun Çağlar Atilla, Banking Business Development Manager of Hesapkurdu.com, said, “Consumers look at the alternatives offered by different banks or financial institutions in order to choose the most advantageous credit card. As Hesapkurdu.com, we provide the opportunity to compare bank and insurance products such as loans, credit cards, insurance or deposit accounts from a single platform. We also offer additional benefits that they cannot obtain elsewhere, if they use Hesapkurdu when comparing their credit cards. The number of credit card applications made through Hesapkurdu.com increased by 25% compared to a year ago," he said.

Total number of cards increased by 17%

In the BKM report, it was seen that the total number of cards including credit, debit and prepaid cards in Turkey exceeded 332 million. Pointing out that the growth rate of credit cards is the same as the increase in the total number of cards in the same period, Orhun Çağlar Atilla said, "While the number of credit cards increased by 17%, the annual increase in the total number of cards is measured as 17%. The rate of use of not only individual but also commercial cards is increasing. Data in the report reveals that 1 TL of every 3 TL credit card payment is made with commercial cards, which provides great convenience for business owners in payments. As Hesapkurdu.com, we offer the opportunity to compare the credit card options of Turkey's largest banks with a single click. They can compare all their cards in a very short time, free of charge. Students, those who travel a lot or corporate customers can also find the most suitable card for them on Hesapkurdu.com and apply immediately," he said.

“Campaigns provide competitive advantage in card selection”

Emphasizing that consumers have too many credit card options, Orhun Çağlar Atilla, Banking Business Development Manager of Hesapkurdu.com, concluded: “These options direct consumers to credit card comparison platforms. Just as consumers try to find the most affordable price before purchasing a product in e-commerce, they look for the one that offers the most privilege in their card preferences. At this point, the campaigns that come with credit card programs provide a competitive advantage to card providers and banks. Hesapkurdu.com users can see the most up-to-date credit card campaigns with all their details on a single screen. In addition to credit cards, we also help users discover advantageous products in products such as loans, insurance and deposits."