Online shopping expected to more than double to TL 35 billion in 2013

Online shopping expected to more than double to TL 35 billion in 2013

In a parallel trend to the increasing number of smartphones in Turkey, online credit card purchases are expected to more than double 2010’s figures and hit TL 35 billion by the end of 2013.Total online credit card payments exceeded TL 29 billion in the first 11 months of 2013, and Interbank Card Center (BKM) General Manager Soner Canko said on Wednesday that online shoppers are expected to charge a total of TL 35 billion by year’s end.In 2010, online credit card shopping totaled only TL 13 billion.

Speaking to reporters before the Mobey Forum, held in Istanbul on Dec. 10-13, Canko underlined that Turkey has 4.3 million mobile banking customers, 56.7 credit card holders and 98.3 million bank card holders. Stressing that Turkey is the second-largest credit and bank card market in Europe after the United Kingdom, Canko said online shopping payments would exceed the amount spent in physical shops within the next three years.

“A recent study shows that we check our mobile phones 150 times a day and many electronic commerce firms have already taken their place in the market with mobile applications,” Canko added.

Data released by BKM earlier in February pointed to a Turkish love affair with online shopping. The number of online credit card transactions increased 34 percent in 2012 over the previous year, reaching a value of TL 25 billion. In 2011, the total value of online credit card transactions was TL 19 billion.

Source World Bulletin