Turkey Digital Banking Market Size, Share, Trends and Report 2034

The Turkey digital banking market was valued at USD 101.52 Million in 2025 and is expected to grow to USD 267.3 Million by 2034. It is projected to expand at a compound annual growth rate (CAGR) of 11.36% during the forecast period 2026-2034. Rising smartphone penetration, increased internet connectivity, and demand for cashless transactions drive this shift. The market is bolstered by digital-only banks, regulatory support, and fintech investments.

Study Assumption Years

• Base Year: 2025
• Historical Year/Period: 2020-2025
• Forecast Year/Period: 2026-2034

Turkey Digital Banking Market Key Takeaways

• The Turkey digital banking market size was valued at USD 101.52 Million in 2025.
• The market is projected to grow at a CAGR of 11.36% from 2026 to 2034.
• Transactional services dominate with a 65% market share in 2025, reflecting high volumes of fund transfers, deposits, withdrawals, and automated payments.
• On-premises deployment leads with 58% share in 2025 due to data sovereignty and regulatory compliance priorities.
• Internet banking holds the largest technology share at 42% in 2025 driven by established infrastructure and consumer adoption.
• The banking industry commands the largest segment share of 30% in 2025 as traditional financial institutions expand digital capabilities.

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Market Growth Factors

Turkey recorded 80.7 million active cellular mobile connections in early 2025 according to GSMA Intelligence, fostering a fertile environment for digital banking adoption. Increased broadband investments including planned fiber rollouts are enhancing network speeds and extending coverage to rural areas, narrowing the digital divide and enabling wider financial service access. This extensive mobile and internet penetration underpin the growing preference for mobile banking among all demographics.

Turkey's regulatory agencies, including the Central Bank of Turkey (CBRT), are actively fostering digital banking innovation while maintaining financial system stability. Initiatives such as the Digital Turkish Lira Project and establishment of the Istanbul Finance and Technology Base, alongside regulatory sandboxes for fintech innovation, lower entry barriers and support domestic and international investments. The Banking Regulation and Supervision Agency’s guidelines have facilitated the launch of fully digital banks without physical branches.

Turkey's fintech ecosystem attracted record funding of USD 201.3 Million in 2025. With 901 fintech companies by the end of 2024, including 731 active in payment solutions, blockchain, and digital lending, aggressive acquisitions like iyzico's USD 87 million acquisition of Paynet bolster market capabilities. Integration of embedded finance solutions such as buy-now-pay-later options enhances consumer convenience and accelerates adoption among merchants and consumers.

Market Segmentation

Services:

• Transactional: 

Dominates with 65% market share; includes fund transfers, cash deposits and withdrawals, automated payments, and loan disbursements through digital channels. High demand is driven by instant payment solutions and expanding ATM networks. Open banking initiatives support personalised payment solutions.

Deployment Type:

• On-Premises: 

Leads with 58% share in 2025, preferred for control over sensitive data and regulatory compliance. Banks benefit from customization, reduced latency, and control over system updates.

Technology:

• Internet Banking: 

Largest segment at 42% share in 2025; established infrastructure supports comprehensive account management, bill payments, investment services, and loan applications via web platforms. Enhanced with multi-factor authentication and fraud detection.

Industries:

• Banking: 

Largest consumer of digital banking solutions with 30% revenue share in 2025. Traditional banks upgrade digital capabilities, mobile apps, internet banking, and security features. The sector has many licensed payment and electronic money institutions.

Regional Insights

The Marmara region dominates Turkey's digital banking market, supported by Istanbul as the economic and financial hub. The region benefits from superior digital infrastructure, high internet connectivity, and a concentration of fintech startups, banking headquarters, and technology companies, making it the leading area for digital banking activity in Turkey.

Recent Developments & News

In January 2025, Kaspi.kz acquired a 65.41% stake in Hepsiburada for USD 1.127 billion. This acquisition integrates payment and buy-now-pay-later services into one of Turkey’s largest e-commerce platforms, marking substantial foreign investment and enhancing fintech innovations across a wide merchant network. Additionally, in May 2024, iyzico acquired Paynet for USD 87 million, strengthening B2B and B2B2C payment capabilities serving over 130,000 merchants.

Key Players

• Garanti BBVA Mobil
• iyzico
• Paynet
• Kaspi.kz
• Hepsiburada

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