The Turkish payment market and its specifics: An interview with Soner Canko

Soner Canko and Diederik Bruggink
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Diederik Bruggink: Head of Innovation and Payments at ESBG, Belgium

Journal of Payments Strategy & Systems, 2016, vol. 10, issue 3, 230-237

Abstract: The Turkish cashless payments market has become one of the most important markets in Europe with its strong infrastructure and many innovative products and services. Turkey is the largest market in Europe, with its 114 million debit cards, 59 million credit cards and 2.5 million terminals. BKM, with its pivotal role in the Turkish banking sector, has pioneered innovations in payments, and Turkish banks have rolled out best-in-class payment products well ahead of their counterparts in other advanced markets — BKM launched the world’s first national digital wallet. BKM developed several e-government projects and continues to develop ways to make Turkey a more cashless society. In fact, the role of BKM has turned to becoming an incubation centre for innovation in card payments systems for issuers and acquirers operating in Turkey. In this scope, Troy, the Turkish National Payment Scheme, has been initiated by issuers and acquirers in Turkey and has been developed in close collaboration with all stakeholders: BKM, issuers and acquirers. In this interview, Soner Canko, CEO of BKM, provides insights in the Turkish payments market, the role of BKM therein, and tells us about the launch of Troy.

Keywords: Turkey; BKM; Troy; domestic card scheme; debit cards; credit cards (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2016
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