The Turkey digital wallet industry is estimated to attain an industry size of USD 16.953 billion by 2030, growing at a 22.30% CAGR from a valuation of USD 6.196 billion in 2025.
The primary driver in the growth of the digital wallet industry in the country is the growing utilization of the internet coupled with the rise in smartphone penetration which is an essential medium for accessing diverse digital wallet solutions like mobile payment apps this promotes the consumers in the country to adopt digital wallet for everyday transactions in retail purchasing along with other payments. Moreover, the rise in demand by consumers in the country for cashless payment options with the growth in e-commerce is also leading to an increase in the adoption of digital wallets in the country.
According to the data from the World Bank and FRED, internet users in the country are estimated to grow from 86 per 100 people in 2023 to 87.3 per 100 people in 2024. Moreover, as per the ITA data of January 2024, about 97.6 million mobile phone users in the country use smartphones. This trend is expected to promote the wide adoption of the digital wallet in the country in the coming years.
Moreover, with the increased urban population, the industry is expected to grow as urban lifestyles move on a fast track due to a busy lifestyle; hence, urban consumers in the country would value convenience and efficiency and favor digital wallets to make payments over cash. Increased urbanization thus leads to even more exposure to modern retail environments that come outfitted with digital payment services such as NFC and QR code payments. For instance, according to the World Bank data, the urban population in the country was 66.096 million in 2023, which is an increase from 65.453 million in 2022.
The Turkey digital wallet market is segmented by:
While the proportion of individuals who used the internet in the last 12 months to buy or order goods or services for private use over the internet (e-commerce) was 46.2% in 2022, it was 49.5% in 2023. The proportion of purchasing or ordering goods or services over the Internet by sex was 52.4% for males and 46.6% for females. Moreover, when this proportion was examined by the Turkish Statistical Institute according to the latest time to purchase or order goods or services, 38.0% of individuals purchased or ordered goods or services in the last 3 months (first 3 months of 2023).
Turkey's digitalization has been one of the government's key strategic priorities, seeking to develop digital technologies for economic development and growth. The government of Turkey initiated the "National Technology Initiative" and "Digital Türkiye" strategy to develop digital infrastructure, increase innovation, and encourage digital literacy among its citizens. These policies are intended to make Türkiye a global leader in digital technologies and make the country competitive in the international market. Key areas of focus are e-government services, regulation of the digital economy, and public-private partnerships to facilitate digital transformation.
The rise in the rate of natural disasters, cyberattacks, and grid outages highlighted the importance of resilient power systems. Turkey's digital wallets, in their nature, ensure decentralized and localized generation and distribution of power, allowing essential infrastructure like hospitals, military installations, and data centers to function autonomously from the main grid during outages. This capability of islanding from the main grid not only provides a steady supply of power in times of crisis but also minimizes the loss of transmission and reliance on old grid infrastructure. With increasing resilience becoming a high priority in energy planning, Turkey's digital wallets are perceived as a key solution for energy security.
Technological developments in mobile hardware and security technologies have made the use of digital wallets much smoother for users. The introduction of Near Field Communication (NFC) technology and biometric authentication techniques, like fingerprint and facial recognition, has enhanced the security, efficiency, and convenience of using digital wallets. These improvements deal with the everyday issues of data security and impermissible access, thus building consumer trust. With transactions becoming rapid and secure, digital wallets are not only an easy replacement for cash and physical cards but also a first-choice payment method for most.
Drivers:
Similarly, according to the data from iyzico which is a well-known digital wallet service provider in the country published a report on the ‘E-commerce ecosystem in Türkiye’ in 2023, which reported that e-commerce in the country was estimated to grow to USD 82.4 billion in 2024 which is an increase of 5.7 percent from the previous year.
Additionally, Turkey is witnessing a growing trend toward acceptance of online shopping. Platforms like Hepsiburada, Trendyol, and Getir have experienced immense growth, and digital wallets such as Paycell and Iyzico have been embedded in these platforms, therefore being favored in digital payments. Moreover, storing card details safely on digital wallets is also another factor, and then confirming transactions with one click, an extremely pleasant and smooth experience for users, hence making this payment style highly adaptable, which is boosting the industry growth in the country.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Turkey Digital Wallet Market Size in 2025 | US$6.196 billion |
| Turkey Digital Wallet Market Size in 2030 | US$16.953 billion |
| Growth Rate | CAGR of 22.30% |
| Study Period | 2020 to 2030 |
| Historical Data | 2020 to 2023 |
| Base Year | 2024 |
| Forecast Period | 2025 – 2030 |
| Forecast Unit (Value) | USD Billion |
| Segmentation |
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| List of Major Companies in the Turkey Digital Wallet Market | |
| Customization Scope | Free report customization with purchase |
Turkey Digital Wallet Market Segmentation:
By Device
By Application