The addition of new financial technologies every day and the growth in transaction volumes and transaction numbers in e-commerce enable the increase in card payments made online. With the pandemic, the rate of orientation towards digital technologies and online channels increased in Turkey. It is the biggest factor in the growth of online card payments. So, what are the latest figures for card payments made online?
Let’s examine the latest trends in online card payments using the data of the Interbank Card Center.
Trend Analysis in Card Payments; Number of Transactions increased by 131%
For domestic and international use with local cards, in the first quarter of 2022; 450 million 463 thousand 350 transactions were carried out. Thus, the total volume created by the transactions was recorded as 163 billion 267 million liras. The number of transactions in the first quarter of the previous year was 310 million 597 thousand 799. In the first quarter of 2020, when the effect of the pandemic was not yet felt, it was 194 million 431 thousand 546 units.
The increase rate in the first quarter of 2022 on the basis of transaction numbers, According to the first quarter of 2021 45%; According to the first quarter of 2020 whereas 131% It was like. Thus, when we look at the figure of 956 million 362 thousand 352 in online card payments in all of 2020; Reaching these figures in the first quarter of 2022 is a remarkable data.
Transaction Volumes Increased 226% in 2 Years
For online card payments; It is observed that the increase is higher in the number of transactions compared to previous years. In addition, in the first quarter of 2022, the total volume of card transactions made online increased by 90% compared to the previous year. At the same time, an increase of 226% was observed compared to the first quarter of 2020.
Payment Amount Per Transaction Reached From 257 Liras to 400 Liras in 2 Years
In the first quarter of 2020, the payment amount per transaction made online by card was 257 lira; In the first quarter of 2022, the amount per transaction increased to 403 lira. Additionally, it is revealed that the number of transactions has more than doubled in the last 2 years. Additionally, there was a 3-fold increase in transaction volumes.
In our digitalizing world, it is used in many different areas, especially financial services. QR code technology is one of them, you can read our article to learn about Payment by QR Code.
