The number of e-invoices created in 2015 reached 100 million and that figure is expected to increase, reaching 500 million by the end of this year as Turkey experiences a transformation in e-payment systems.
As rapid, global digitalization makes the use of paper and bulky processors obsolete, the majority of payment systems are utilizing electronic methods to improve the efficiency of inter-company integration and to maximize business resources.
These technological trends are also evident in retail giants where consumer shopping habits are directly affected by digital systems. Retailers are able to get closely acquainted with customers and contact them directly via channels, such as e-commerce, increasing the level of customer satisfaction and loyalty while making the in-store shopping experience more exciting. Technological trends that affect retail firRising productivity as a result of digitalization is also reflected in modern payment systems. In Turkey especially, there has been a rapid transformation which began with the cooperative, combined efforts of companies from the public and private sectors to bring e-Billing, e-Books, e-Archives and the new-generation cash register to the fore.
By the end of 2016, with more and more taxpayers opting to use e-billing applications as payment systems, the total number is expected reach to 60,000 while another 5,000 taxpayers making their transition to e-Archive. A total of 100 million e-Bills were created in Turkey in 2015 alone, while the total amount is estimated to reach 500 million by the end of 2016.
New generation payment registration system on the way
The point-of-sale (POS) system constitutes an important part of the digital transformation. Regarded as one of the biggest transformations in the history of the struggle against unregistered businesses in Turkey, all cash registers and POS devices will become obsolete as part of the transformation which will affect approximately 3 million tradesmen and small and medium enterprises (SMEs).
Traditional cash registers will be replaced with the "New Generation Payment Registration System" which will combine cash registers and point-of-sale units into one single unit. The new generation of smart cash registers, with internet connectivity capabilities, will send immediate notifications to the Ministry of Finance while the invoice will also become a thing of the past.