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Development of Contactless Card Payments in Turkey

Author

Listed:
  • Saygin CEVÝK
  • Dilan TEBER

Abstract

The aim of this study is to examine the developments in the usage of contactless cards over the years and to analyze the demographic and socio-economic factors that affect the usage of contactless cards in Turkey. For this purpose, firstly, the adoption level of the contactless cards by individuals is examined using the Interbank Card Center data for the period between 2010 and 2020. It is noteworthy that along with the COVID-19 epidemic, contactless cards are used in one of every four card payments at the end of 2020. Secondly, by using the results of the Cash Usage Habits Survey which is conducted by the Central Bank of the Republic of Turkey in 2020, the usage of contactless cards are investigated and the factors that affect the usage of this cards are analyzed with a probit model. The results show that as the likelihood of using a contactless card increases with income, financial literacy and education levels. While women are more likely to use contactless cards than men, it has been observed that being married reduces the probability of using a contactless card. The results also show that the likelihood of using the contactless card at low value payments is more likely and individuals who generally prefer cash for payments are less likely to use contactless cards.

Suggested Citation

  • Saygin CEVÝK & Dilan TEBER, 2021. "Development of Contactless Card Payments in Turkey," Journal of BRSA Banking and Financial Markets, Banking Regulation and Supervision Agency, vol. 15(2), pages 203-226.
    • Handle: RePEc:bdd:journl:v:15:y:2021:i:2:p:203-226
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    More about this item

    Keywords

    Contactless payment; Cash usage habits; Interbank Card Center; COVID-19; Cash usage.;
    All these keywords.

    JEL classification:

    • C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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