Payments made by credit card increased by 110% in 2022

Card payments reached TL 3 trillion 708 billion in 2022 with an increase of 117 percent compared to the previous year.

According to data from the Interbank Card Center (BKM), the number of payments made with credit cards increased by 110 percent annually and reached TL 2.954 billion in 2022.

In 2021, the number of payments made by credit cards increased by 47 percent annually to TL 1 trillion 406 billion. With the effect of high inflation and falling wages day by day, there was a huge increase in payments made by credit card. Low credit card interest rates of 1.36 percent were also effective in this. While the current contract interest rate for 2023 is 1.36% per month, the current default interest rate is 1.66% per month.

The number of payments made with debit cards, on the other hand, increased by 146 percent annually to TL 688.5 billion.

The number of payments made with prepaid cards increased by 149 percent to TL 66.2 billion.

Thus, the total number of card payments in 2022 increased by 117 percent compared to 2021 and reached TL 3.708 billion.

THE CASH WITHDRAWAL AMOUNT INCREASED 120 PERCENT WITH CREDIT CARD

In 2022, the number of cash withdrawals made by credit cards increased by 120% annually to TL 332.3 billion, while the number of cash withdrawals made by debit cards reached TL 1.533 billion with an increase 50% per year.

The number of cash withdrawals made with prepaid cards, on the other hand, increased by 102 percent and reached TL 37.6 billion.

THERE ARE 99.5 MILLION CREDIT CARDS

The number of credit cards reached 99.5 million in 2022, an increase of 19 percent compared to 2021.

While the number of debit cards increased 13 percent to 168.9 million; The number of prepaid cards rose 25 percent to 71.6 million.

Thus, the total number of cards increased by 17 percent in 2022 and reached 340 million.

ZIRVE MARKET-FOOD INDUSTRY

With the end of the pandemic, in parallel with the return to normality in 2022, the fuel, accommodation and airline sectors were activated.

Compared to the previous year, these sectors were the sectors with the highest increase in card payments.

The food and insurance sectors were behind the top 3 in the ranking.

In the industry ranking by card payment amount size, market food payments ranked first with TL 1 trillion. This sector was followed by fuel oil with TL 349.2 billion, clothing and accessories with TL 306.1 billion, electronics with TL 278.2 billion and food with TL 212.3 billion.

1 TL OF EVERY 4 TL OF CARD PAYMENT IS BY INTERNET

Online card payments increased by 126 percent in 2022 and reached 1 trillion 28 billion TL.

The share of online card payments in the total reached 26 percent.

In 2022, the number of contactless payments made with cards increased by 77 percent compared to the previous year and reached 6.62 billion.

The number of contactless payments increased by 212 percent compared to the previous year, thus exceeding three times the previous year and reaching TL 904 billion. For in-store card payments, 2 out of 3 payments were made contactless in 2022.

MAXIMUM CARD PAYMENT MONDAY DAY

When analyzing the distribution of TL 3.71 trillion payments made in 2022 by payment method, 42 percent, or TL 1.53 trillion, were made via the in-store contact payment method.

Of these payments, 34 percent, TL 1.27 trillion, were paid online or via mail/phone sales method (month/y), while 24 percent, TL 904 billion, were paid online. contactless payment

During the year, the day with the most card payments was Monday, while the time interval was from 3:00 p.m. to 4:00 p.m.

MAXIMUM CASH WITHDRAWAL IN THE HOW OF THE DAY OF SACRIFICE

The highest amount of cash withdrawal by card was 15.5 billion TL, on the eve of Eid al-Adha on July 8.

On the other hand, the largest number of card payments over the Internet was made with 6.1 billion TL on November 25, known as “Magnificent Friday”.

The highest card payment amount was 20.8 billion TL on December 30, while the contactless payment record for the year was recorded on December 31 with 13.6 million cards and 27.6 millions of contactless payments. (SOZCU.COM.TR, AA)