Türkiye's national payment card system, Troy, has reached 67 million cards as of August, capturing a 20% share of card transactions, Ozan Deniz, General Manager of the Interbank Card Center (BKM), said Thursday.
Speaking to Anadolu Agency’s (AA) Finance Desk, Deniz highlighted the role of Istanbul’s Financial Center in the system’s growth.
BKM, founded in 1990 by 13 public and private Turkish banks, has a 35-year history in the country’s financial sector. Deniz said card payments have become an integral part of daily life, noting that transactions across different banks’ ATMs or point-of-sale terminals are processed through BKM.
“Daily, more than 40 million card transactions occur on systems built by BKM,” Deniz said, calling the network “critical” and emphasizing the company’s role in ensuring transactions are secure, efficient, and reliable.
He added that BKM also owns Türkiye’s first digital wallet, BKM Express, and the Troy national card scheme. Since the Central Bank of the Republic of Türkiye (CBRT) became the majority shareholder in 2020, the company’s responsibilities have expanded.
Deniz described BKM as a cornerstone of Türkiye’s payment ecosystem, providing essential infrastructure to increase communication, competition, and innovation within the sector.
Troy was launched by BKM in 2016. Deniz said most countries operate their own national card systems, which help develop technology independently and retain transaction fees within the country.
“With Troy, the money that used to leave our economy through commissions now stays in Türkiye,” he said. “We have reached 67 million Troy cards and a 20% market share. That means 20 lira of every 100 lira spent with cards is paid with Troy. This is a source of pride, and it was made possible thanks to our citizens’ support.”
Deniz also credited the CBRT, member banks and payment and e-money institutions for supporting the initiative. To promote Troy, BKM launched a national advertising campaign featuring Turkish athletes, including Hakan Çalhanoğlu, Zehra Güneş and Mete Gazoz, encouraging citizens to “pay with Troy and help Türkiye win.”
Deniz said Troy is fully operational in Türkiye, including the Turkish Republic of Northern Cyprus (TRNC). While global acceptance is limited, international usability is enabled through partnerships with foreign payment networks.
“Just like mobile operators in Türkiye cooperate with networks abroad to ensure coverage, Troy’s international acceptance is achieved through collaborations,” he said.
He noted that 4% of Troy transactions occur abroad, with half being physical overseas transactions, representing travelers’ purchases. “We cover 96% of domestic card spending,” Deniz said, adding that international expansion efforts continue.
