What are the most commonly used payment methods in Turkey?

The changing global economy, the pandemic process, and the fluctuations in the Turkish economy resulting from these factors have led to a significant rise in prices, especially in retail markets. Therefore, most of the financial activities we used to call regular shopping during times of economic prosperity are now considered luxury consumption. In tough economic conditions, consumers are trying to take advantage of every opportunity to save a bit of money. As a result, in recent years, cash payments have largely been replaced by payment options that offer installment plans and deferred payments, such as bank transfers, credit and debit card payments, and more.

Turkey is a country where technological awareness is generally high. As online shopping, also known as e-commerce, becomes increasingly popular, online payments are rapidly becoming a favorite among users. So, what are the preferred payment methods? With the growing volume of e-commerce, many brands are developing online payment methods that offer installment options to increase users' purchasing potential, and it is safe to say that this trend will continue to grow for some time.

This global trend shows that many businesses, which used to operate on a cash-only basis a few years ago, now support alternative payment methods and are even searching for new payment tracking systems. Consequently, it is possible to predict that small, medium, and large-scale enterprises will increasingly prefer to make promissory note and check payments through online systems. Furthermore, new generation digital platforms like Semosis, which support these trends, will increasingly play a key role in online payment tracking systems.