The State of Turkish Fintech Ecosystem 2025 (Invest in Türkiye (startups.watch))

Summary

• New fintech entrants decelerated to 16 incorporations in 2025, alongside an all-time high of $220M in total capital deployment.p.4
• QR code transactions reached 601M, a 357% YoY surge.p.5
• Total investment volume surged from $20 million in 2010 to $116 million by 2017.p.6
• A mandate requires 3% of R&D incentives to be channeled into venture capital investments, driving the establishment of Venture Capital Investment Funds (GSYFs).p.11
• Virtual POS and remote payment solutions have stabilized at around 30–35% of total payments, while physical POS transactions account for approximately 65%.p.18

Key insights

1. Türkiye is the top-ranking country in Europe for credit card volume.p.4
2. Credit cards were introduced in Türkiye as early as 1968, and the first electronic POS terminals were deployed by 1991.p.10
3. With 835 active players, the landscape appears to be reaching strategic saturation, with just 16 new entrants in 2025.p.12
4. Primary crypto legislation (Law No. 7518) provides the legal framework for crypto asset service providers.p.9
5. High-profile bank acquisitions include İş Bankası's acquisition of Moka and QNB Finansbank's acquisition of Ödüyo.p.11
6. The FAST system enables 24/7 real-time settlements, and the GEÇİT platform is the gateway for Open Banking.p.10