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Turkey to be cashless by 2023

Chris Skinner

I spend a lot of time talking with my friends in Turkey, particularly since the big change in climate after the protests last year. If nothing else, I love Turkey for their cheesy adverts: In this latest update BKM, the ACH for most of the retail banks, provides the story of Troy, the first and only national payments scheme of Turkey.

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Turkish delights in innovation

Chris Skinner

They manage the Fintech Istanbul program, and are the powerhouse behind many of the innovations we’ve seen in Turkey from mobile wallets to contactless payments. Could you please tell us a bit about banking sector in Turkey? They are also very successful in adopting and launching innovative technologies for the first time in the world.

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Is Turkey Ready For Open Banking Ahead Of Its EU Counterparts?

PYMNTS

With the General Data Protection Regulation (GDPR) and the revised Payments Services Directive (PSD2) humming along in Europe, open banking is overtaking the financial world just as consumer data law gets muscular. Turkey is a prime example, being a major proving ground for the region’s FinTechs and open banking hopefuls.

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Thanksgiving Innovation 101: The Turkey

PYMNTS

According to the National Turkey Federation (which really does exist) roughly 85 percent of Americans plan to eat turkey for Thanksgiving. That amounts to something like 45 to 50 million turkeys sold and 700 million to 800 million pounds of turkey meat eaten today — and the days to come as leftovers. Or is there?

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Why Turkish Banks Are Bullish On PSD2

PYMNTS

and Turkey. Around the Data Protection and Security World. One of the latest countries to adopt PSD2 is Turkey, where its parliament just passed support for open banking regulations. Why Open Banking Could Signify Deep Changes in Turkey. Several other countries are following its lead, such as the U.S.,

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Turkish FinTech Payguru To Expand SMS Payments

PYMNTS

The method is soon to be rolled out in Ankara, Turkey's capital, and other cities as well, FT reported. Payguru's mission is to fill the gap in Turkey for around 19 million unbanked residents. That was inconvenient for those who lacked bank accounts.

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NEW REPORT: In The Middle East And Africa, Digital Payments Face A $1.4T Cash Challenge

PYMNTS

Saudi Arabia and Turkey are seeing the number of plastic cards in circulation increase, with Turkey now one of the largest card markets in the region. Seventy-five percent of adults in South Africa now possess bank accounts, compared to just 60 percent of adults in Turkey. These tools are particularly gaining popularity.

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