The government of Turkey has unveiled a new electronic national card payment clearing system, known as TROY.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The new system will be managed by Interbank Card Center (BKM), though banks will get the option to select the national system or another.

The fee of using the card will be lower compared to that charged by the international card networks.

The new electronic card payment clearing system will be operational from 1 April 2016.

BKM chairman Soner Canko said: "We are pleased to have our own brand, which you will see at the bottom-right corner of every [debit or credit] card. He said TROY would be a first for the country, adding that the three-year project constitutes ‘a historic moment’."

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Canko added that the centre gained support from the Central Bank of the Republic of Turkey, the Banking Regulation and Supervision Agency, and all banks during the system’s development phase of the payment system.