TROY (Türkiye's Payment Method)

To meet Türkiye’s need for a domestic payment infrastructure, TROY, a payment system developed under the umbrella of the Interbank Card Center, was launched in 2016. TROY, defined as the domestic payment method on bank cards, credit cards, and prepaid cards, has been made available for shared use by financial institutions in Türkiye. Over time, it has become valid across nearly the entirety of the domestic transaction network and, through partnerships with international card schemes, has gained usability options abroad. Alongside an expanding user base, government institution initiatives, and collaborations with various sectors, TROY has increasingly established a more prominent position within Türkiye’s payment systems ecosystem.

TROY logo (TROY)

Establishment and Corporate Structure

The operation of TROY is managed by the Interbank Card Center A.Ş. The system was launched in 2016 as part of the financial sector’s collective effort to develop a shared payment infrastructure. The ownership structure of the Interbank Card Center forms part of the factors determining TROY’s governance position. Sources indicate that the Central Bank of the Republic of Türkiye holds a majority stake in the Interbank Card Center, alongside public and private banks holding varying shares. Within this framework, TROY has been developed as a domestic scheme enabling banks and payment institutions in Türkiye to operate in a compatible manner.

Among the motivations for developing TROY is the desire to reduce Türkiye’s dependence on international payment systems. Particular attention has been drawn to the potential for international card schemes and global political conditions to occasionally disrupt payment flows. In this context, the development of a domestic system has been regarded as a strategic necessity for the financial sector. TROY was officially launched by the Interbank Card Center in 2017, and recommendations for its adoption by public institutions were issued during the same period.

Technical Infrastructure and Operating Principles

TROY is a card scheme used via bank cards, credit cards, and prepaid cards. The system provides the infrastructure for transferring, authenticating, and settling transactions between accounts. It is stated that all ATMs and POS terminals in Türkiye are compatible with the system. This compatibility has enabled TROY-branded cards to achieve widespread usage across the country.

For online and mobile purchases, the authentication process for TROY cards is conducted through the GO – Secure Pay system. This system is based on sending a one-time password to the cardholder during the transaction, creating a security layer to protect card information. This simple authentication mechanism adds an extra identity verification step for online payments.

In card transactions, TROY functions similarly to Visa or Mastercard. Available sources indicate that transactions are processed using the card number, and authorization is completed with a one-time password sent by the issuing bank, as is standard with other card schemes.

International transactions with TROY cards depend on the international payment scheme logos printed on the back of the card. It is reported that international partnerships with schemes such as Discover, Diners Club, and Pulse provide usage options abroad. These partnerships have enabled the card’s validity to be recognized on international networks.

Visual of the agreement signed between BKM and UnionPay (AA)

Domestic Usage Areas

TROY enables transactions at all ATMs and POS terminals owned by banks in Türkiye. Within domestic transactions, cardholders can withdraw cash using bank cards, make purchases using credit cards, and complete payments using the loaded balance on prepaid cards. It is stated that TROY-branded cards can be used for e-commerce transactions, are valid for mobile shopping, and can be selected for bill payment processes.

Installment plans, reward points, and loyalty programs offered by banks are determined by the issuing bank. Users making purchases with TROY-branded cards are eligible to participate in the banks’ promotional campaigns and programs. This dynamic allows the usage experience of the card to vary directly according to the conditions offered by individual banks.

Twenty-eight banks and twenty electronic money institutions in Türkiye offer TROY-branded cards. Existing cards at these institutions can be replaced with TROY-branded cards or new TROY cards can be obtained through application. Card applications can be submitted through bank branches, customer service representatives, or online platforms.

International Usage Opportunities and Partnerships

TROY’s international usage is determined by the additional international scheme logos printed on the card. Sources indicate that agreements with schemes such as Discover, Diners Club, and Pulse provide validity abroad. This usage is only possible when the relevant logos are present on the card.

TROY has entered into partnerships with various organizations to expand its international usage network in subsequent periods. The agreement with UnionPay is noted to have expanded TROY’s international usage options. Such partnerships aim to increase the number of locations where the card can be used abroad.

A recent announcement revealed that TROY cards can be used as a payment method on Google Play. Users are able to add their TROY cards to their Google Play accounts to make payments for digital content. It is stated that TROY cards are accepted during the payment method addition steps in the Play Store application. This development is regarded as a step toward expanding the card’s validity on international platforms.

TROY card (AA)

User Numbers and Card Transaction Statistics

Sources provide data on TROY’s usage across different years. As of the end of 2023, the number of users was approximately 18.8 million, and the total transaction volume reached 239.2 billion TL. According to sources based on the Interbank Card Center and various news reports, user numbers have increased in subsequent periods, with rising demand.

According to 2024 data, TROY’s market share by card count reached 11.55 percent, and its share of total transaction volume reached approximately 18 percent. Analysis of tables in the sources shows a significant increase in both card count and transaction volume from 2017 to 2024. The number of cards, which stood at around two million in 2017, rose to 50 million by the end of the fourth quarter of 2024. Transaction volume increased from billions to trillions of TL during the same period.

Among the reasons for this growth are shifts in government policies, regulatory measures encouraging public institutions to transition to domestic payment systems, and changes in societal preferences. In particular, legislative changes implemented after 2022 are noted to have accelerated the adoption rate of the domestic card scheme.

Government Policies and Regulations Regarding TROY Usage

Government institutions have taken various steps to promote TROY usage. A circular published in the Official Gazette mandated that public payments be made using domestic credit and bank cards. It is stated that under this circular, decisions were made to prioritize domestic systems for student loans, scholarship payments, social assistance, and other public payments.

Following this decision, public institutions have implemented necessary measures to encourage their employees, pensioners, and social assistance recipients to use TROY cards. Sources indicate that this initiative covers millions of users and has accelerated the widespread adoption of the domestic payment method.

The cooperation protocol signed between the Social Security Institution (SGK), PTT, and TROY also contributes to increasing card usage. Under this protocol, part of the SGK’s Retirees Project, TROY cardholders who are retirees will be offered special discounts, promotions, and campaign opportunities. The protocol aims to facilitate and incentivize retirees to use TROY cards for their financial transactions.

TROY’s Position from the Perspective of Banks and Payment Institutions

TROY is defined as a payment method supported by a broad banking network operating in Türkiye. Banks offering TROY cards include public banks, private banks, and participation banks.

Among the banks providing bank cards are numerous institutions such as Akbank, Halkbank, Ziraat Bankası, Vakıfbank, İş Bankası, Garanti BBVA, Yapı Kredi, and PTT. A similarly wide range is observed among institutions offering credit cards. This widespread availability demonstrates that TROY is recognized as a domestic standard within the banking ecosystem.

TROY cards are also available through electronic money institutions. These institutions offer prepaid card services, enabling users to load funds and use the cards for transactions.

Financial Data and Impact on the Payment System

The importance of payment systems to a country’s economy is well recognized. It has been noted that transaction fees paid to international systems such as Mastercard and Visa can represent a significant portion of total transaction volume, and increased use of domestic payment systems can help retain these amounts within the country.

It is stated that accurately calculating the total amount paid to international systems such as Mastercard and Visa is difficult, as rates vary according to bank agreements and transaction types. Nevertheless, estimates suggest that hundreds of millions of dollars are transferred abroad annually based solely on transaction fees. It is assessed that increased use of the domestic scheme could keep these amounts within the country.

According to reported data on total spending via card payments, in Türkiye the total card payment amount in 2022 reached approximately 3.7 trillion TL. Of this volume, approximately 2.9 trillion TL originated from credit card expenditures. As TROY’s share of this volume increases, data flows related to the payment infrastructure are expected to consolidate within domestic systems.

TROY is a domestic payment method established to strengthen Türkiye’s financial infrastructure. Since its inception, it has been supported by banks, promoted by public institutions, and adopted by broad segments of society. The growth in card transactions, state policies, international developments, and the digitalization process have significantly expanded TROY’s usage volume. Its coverage of the entire domestic ATM and POS network, combined with partnerships with international schemes that have expanded overseas usability, has strengthened TROY’s position within the payment systems landscape.