Top 5 Payment Providers Offered by Turkish Online Stores 2023

Which Payment Providers Dominate the Turkish eCommerce Market Offered by Online Stores in 2023?

In the Turkish eCommerce landscape of 2023, payment provider penetration (percentage of stores offering the provider among available payment methods) showcases a clear hierarchy dominated by traditional card services. VISA and Mastercard lead the pack with an impressive penetration rate of 87.1% each, highlighting the strong reliance on these global card networks within the Turkish eCommerce market. The presence of unknown providers for invoicing follows closely behind at 59.8%, indicating a significant portion of businesses opting for this payment method. Bank transfers and cash in advance hold a penetration rate of 48.5%, showcasing the continued preference for more traditional banking methods in online transactions. Cash on delivery, a method known for its convenience and security, trails with a penetration of 39.7%, reflecting the enduring popularity of this payment option among Turkish consumers. The data from 2023 underscores the diverse payment landscape in Turkish eCommerce, with a mix of established card networks, local providers, and traditional payment methods catering to the varied preferences of businesses and consumers alike.

Main Facts: Dominant Payment Providers in Turkish eCommerce Market 2023

• VISA and Mastercard dominate the Turkish eCommerce market in 2023 with a penetration rate of 87.1% each.
• Unknown providers for invoicing follow closely behind with a penetration rate of 59.8%.
• Bank transfer/cash in advance and Cash on delivery round up the top 5 payment providers with penetration rates of 48.5% and 39.7% respectively.