Credit card
Number of people default on loan, card payments falls in 2023
The number of people with unpaid consumer loans and credit card payments declined by 11.6 percent last year from 2022 to 1.32 million, according to data Encazip compiled.
In 2022, nearly 1.5 million people failed to make consumer loans and credit card payments, according to the numbers of the Turkish Banks Association's (TBB) Risk Center.
Rate on credit card cash advances increased
The Central Bank has raised the monthly maximum interest rate on credit card cash withdrawals from 4.42 percent to 5 percent.
The bank's decision, which aimed at curbing credit card spending, was published in the Official Gazette on March 16 and came into force.
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Turkish central bank raises credit card cash withdrawal rates
Turkey's central bank on Saturday raised the maximum interest rate on credit card cash withdrawals to 5% from 4.42%, according to a decision published in the Official Gazette, in a move aimed at additional tightening.
Payment Technologies Revolutionizing the Casino Landscape
In the dynamic realm of iGaming, the traditional landscape of payment methods is undergoing a huge transformation. The antiquated visits to banks have evolved into e-wallets and infrequent occurrences. The once-venerable bank wire and cheques now seem relics of a bygone era.
Many Turks have multiple credit cards: Survey
Some four in 10 people in Türkiye have more than one credit card, according to a survey conducted by Areda Piar.
Around 39.6 percent of respondents said they have two or three credit cards, while 7.6 percent stated they have four or more.
According to the survey, only 5.7 percent of consumers have one credit card.
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Credit card fraud swelling
About 7.2 million euros was charged in the first half of 2023 to debit and credit card holders due to the 31% increase in fraud incidents which raised the amount "embezzled" from cards to €12.5 million (an increase of 29% compared to the second half of 2022).
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Cards denied in occupied territories
The prevalence of retail traders and services unwilling to accept credit cards is on the rise in the occupied territories of Cyprus, warns columnist Jenq Mutluyakali in an article at the Yeni Duzen newspaper.
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Forced limitations on cash use for welfare benefit recipients
The government plans to gradually pay all welfare benefits by prepaid card and oblige recipients to spend at least half the amount through electronic transactions.
Card payments rise 109 percent in June
Payments made with credit cards, debit cards and prepaid cards hit 639 billion Turkish Liras ($23.7 billion) in June, rising 109 percent from a year ago, according to the data from the Interbank Card Center (BKM).
Total card payments grew 2 percent from May.
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Bulgaria is in the Top 25 Countries with the Biggest Debt Slaves
With inflation driving up costs, global debts are nearing record highs at $305 trillion - around $45 trillion higher than pre-pandemic levels. Moreover, a worldwide recession has been warned for 2023 at the World Economic Forum earlier this year in the face of rising debt vulnerabilities.