The impact of covid-19 on payment systems in turkey

The negative effects of coronavirus on the economy are increasingly felt in all countries. Banks, which form the basis of payment systems in e-commerce, are rapidly affected by changing trade patterns and different channels and fintechs have a disruptive effect on the banking sector. Apart from the use of traditional banking products, fintech technology is increasingly preferred by consumers and banks, with increasing costs and the cost impact of digitalization. Increasing internet use, which enables e-commerce to grow with the increasing young population, paves the way for alternative digital payment systems. In this study, the accelerating effects of Covid-19 on digital payment and the current situation of alternative solutions in Turkey has been discussed.