Turkish online credit card payments surge in May

By Murat Birinci

ISTANBUL (AA) - The total value of online credit card payments in Turkey rose by 46 percent annually to 8.5 billion Turkish liras (around $2.4 billion) in May, the country’s Interbank Card Center (BKM) announced on Tuesday.

Online payments accounted for 15 percent of total card payments in May, the BKM noted.

The total value of debit and credit card payments stood at 57.8 billion Turkish liras (some $16.3 billion) in May, marking an increase of 14 percent compared to the same period of last year, the center stated.

Credit card payments were worth 51.8 billion Turkish liras (approximately $14.7 billion) and accounted for almost 90 percent of total card payments, while the value of debit card payments was only six billion liras (some $1.7 billion).

Public payments, such as taxes and fines, led online payments at around 1.3 billion liras (some $368 million) and a share of 15 percent.

Air travel saw with 1.13 billion liras (around $320 million) in online card payments -- a share of 13 percent.

Electronics were next with 1.15 billion liras (approximately $326 million) and a share of 12 percent. Travel agency payments were 928 million liras (some $263 million) and the service sector saw 679 million liras (around $192 million), a share of 8 percent.