Combined Turkish finance app downloads see 8.7% rise over past 12 months

Turkish finance app downloads saw a combined 72 million downloads from April 2023 – April 2024, an 8.7% increase YoY. Incumbents slightly outpaced FinTechs in April 2023 – April 2024 accounting for a combined 38.4 million downloads, a 53% share of total downloads. FinTechs saw a combined 33.5 million, a 47% share over the same period.

Ziraat, a Turkish retail bank, had the most downloads from 2017-Apr 2024 with 48.8 million downloads in total. Ziraat had a 13.9% market share of retail banks in 2021 and has been consistently voted Turkey’s most popular bank. Ziraat has a high overall rating in the play store of 4.5. Users appreciate its functionality but critique some user interface choices such as warnings and others have encountered issues such as malfunctioning contactless payments and prolonged unavailability due to faulty updates.

İstanbulkart, the fare payment provider for Istanbul’s transportation, had the most downloads of any Turkish FinTech app from 2017-Apr 2024 with 39.7 million downloads in total. İstanbulkart has a very low overall rating in the play store of 1.7. İstanbulkart faces a lot of criticism in their reviews for technical glitches like loading failures and failure to proceed, alongside complaints about restrictions on rooted phones and issues with activation codes. It would seem that their monopoly on transportation payments is the reason for such high downloads rather than a great customer experience.

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