Wonder

E-Wallet Market in Turkey

Delivered July 16, 2019. Contributor: Sameen B.

Goals

To analyze the key players, their revenues, and audience in the E-Wallet market in Turkey in order to understand whether Turkey is a viable market opportunity for foreign or domestic E-Wallet providers e.g. PayPal, Payoneer, ePayments, Transferwise, Skrill, and any domestic E-Wallet providers.  

Early Findings

We were not able to find a lot of information about the E-wallet market industry in Turkey in our initial research. This could be because E-wallet services account for only 11% of all payment processing methods in Turkey. 
 Datanyze provides the distribution of share of top Payment Processing technologies in Turkey. They calculate market share data by “taking the number of websites using a payment technology and dividing it by the total websites using any technology in the same category.”
According to their data PayPal has had the largest market share in Payment Processing technologies in Turkey with a 60.71% market share, followed by Stripe, Braintree, Paymill, Stripe Checkout, Google Checkout, Amazon Pay, Klarna, Masterpass, Adyen. 
However, our research shows that PayPal is no longer available in the country. 
From a presentation report titled, “Digital and Mobile Payment Systems in Turkey”, we were able to find a list of famous digital wallets in Turkey. These include: BKM Express, GPay, mobilexpress, Papara, and Pay Cell. 

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