During November and December 2011, Eurasia Insights interviewed Turkey’s retail banks and payment market participants about the current state and future of mobile financial services in the country.
As this white paper extract from Eurasia Insights Mobile Banking & Payments in Turkey 2012 report highlights, a powerful cocktail of market dynamism, culture of innovation and intense competition from the commanding heights of Turkish banking, is kick-starting the journey to a new retail financial services landscape.
Turkey has been long admired for her demographic advantages and the speed of adoption and innovation when it comes to new payment technologies. And in the years following the global economic crisis of 2008, a fast-growing economy and robust financial institutions, has seen the banking sector play a pivotal role in the development of mobile financial services.
A role that carries with it significant implications as to the most effective means of promoting adoption, driving use and broadening the application of mobile financial services products to the lives of consumers everywhere.