Troy Card Scheme: A Secure Payment Solution for Turkey

Troy is a popular payment card scheme in Turkey, widely accepted by merchants and used by consumers.

Troy cards are issued by Turkish banks and financial institutions, offering a convenient and secure way to make payments.

Troy cards are accepted at over 200,000 merchants across Turkey, making it a widely accepted payment method.

Troy cards can be used to make both online and offline transactions, giving users flexibility and freedom in their payment choices.

Troy cards are protected by advanced security measures, including encryption and two-factor authentication, to safeguard user transactions and prevent unauthorized access.

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Troy is a Turkish card payment solution that offers a range of debit, credit, and prepaid cards.

More than 20 Turkish banks issue Troy cards, making it a widely accepted payment method in Turkey.

Troy cards can be used at ATMs, point-of-sale terminals, and for Internet and mobile transactions.

Customers can also use Troy's GO – Güvenli Öde service, which ensures transaction security through authentication.

To use GO – Güvenli Öde, customers simply enter their Troy card number on the payment page and click "Purchase."

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Troy is a domestic alternative to international card networks like Visa and MasterCard, launched in 2016 by the Interbank Card Center (BKM) in Turkey.

To use Troy, customers simply choose it as their payment method at checkout, enter their Troy card number, and confirm the purchase with a one-time PIN issued by their bank.

The payment is made instantly, and merchants receive funds right away, making it a secure and cost-effective option for financial transactions in Turkey.

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At the checkout, customers can choose various payment options, including Troy.

To use Troy, customers need to add their Troy card number.

The payment is made instantly, and merchants receive funds right away.

Customers will also be asked to confirm the purchase using a one-time PIN issued by their bank.

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Troy, Turkey's national card scheme, was launched in 2016 by the Interbank Card Center (BKM).

The scheme was created to provide a domestic alternative to international card networks like Visa and MasterCard, with the aim of enhancing financial independence and reducing dependency on foreign networks.

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Troy operates within Turkey, providing a secure and efficient platform for electronic payments, including credit, debit, and prepaid card transactions.

As of the end of July 2023, there were 36 million Troy cards in circulation, including 9 million credit cards, 19 million debit cards, and 8 million prepaid cards.

The market share of Troy cards in card payments exceeded 12% at the end of June 2023, with the number of cards increasing by 10 million in the first half of the year.

Troy's growth has been accelerated by the favor and interest of Turkish citizens, with the scheme's General Manager, Ozan Deniz, expressing gratitude to users who have contributed to its success.

Troy's technological infrastructure allows for shopping and withdrawing money from ATMs, and the scheme has been developed with the know-how of Turkish banking and the expertise of BKM.

As of 2017, Turkey had a young and dynamic population, with 50 banks and 12,000 branches, and a GDP of $718 billion.

Troy's implementation phase was completed in 2015, and the roll-out started in 2016, with the scheme being accepted at over 2.4 million POS terminals and 50,000 ATMs.

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Troy's products include debit, credit, and prepaid cards, with both magnetic stripe and EMV/contact chip technology available.

Troy's acceptance strategy consists of three phases, with the first phase focusing on domestic usage, the second phase involving international acceptance with one scheme, and the third phase enabling widespread international acceptance.

Troy's contactless products are being handled in two phases, with the first phase focusing on cards without data storage and the second phase introducing cards with data storage for campus and transportation applications.

Troy has ambitious targets, including the introduction of mobile payments and new solutions through its R&D Lab, with the aim of introducing co-badged and contactless cards by April 2017.

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Troy is a card scheme that offers a range of benefits to its users.

It provides a secure payment method, with fraud prevention measures in place to protect cardholders.

Troy cards can be used for online transactions, making it a convenient option for e-commerce.

With Troy, cardholders can also enjoy rewards and cashback on their purchases.

The scheme offers a wide acceptance network, allowing cardholders to use their cards at millions of merchants worldwide.

Troy cards can be used for contactless payments, making transactions faster and more efficient.

The scheme also provides a range of tools and resources to help businesses accept card payments securely and efficiently.

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Turkey's Troy Initiative has made significant strides in the world of financial transactions. Launched in 2016 by the Interbank Card Center (BKM), Troy aims to provide a domestic alternative to international card networks like Visa and MasterCard.

The initiative was driven by the need for a national payment system that could offer more control over transaction data, reduce dependency on foreign networks, and potentially lower transaction costs for Turkish banks and consumers. This goal is being achieved through Troy's secure and efficient platform for electronic payments.

Troy operates within Turkey, supporting a wide range of financial transactions, including credit, debit, and prepaid card transactions. As of the end of July 2023, there were 36 million Troy cards, including 9 million credit cards, 19 million debit cards, and 8 million prepaid cards.

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The Interbank Card Center (BKM) collaborates with various Turkish banks to ensure seamless integration and operation of the Troy card scheme. This partnership has enabled Troy to establish a significant place in the payment area.

Troy's market share in card payments exceeded 12% at the end of June, with TL 1 out of every TL 8 in card payments being made with the domestic Troy card. The initiative aims to increase Troy's market share to 20% by the end of this year.

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Troy's long-term vision is to achieve market leadership in both card numbers and transaction volumes within three to five years.

This ambitious goal will significantly boost Türkiye's economy, making it a major player in the global financial market.

Market leadership is just the beginning, as Troy aims to become a symbol of financial independence for Türkiye.

The rise of Troy is a testament to the country's commitment to developing local and national brands that strengthen financial independence.

Troy is also investing in strong technological enhancements to expand its validity abroad.

Here are some key goals that Troy is working towards: