One Step Closer To European Union: Smart Card Technology In Turkey

Abstract

Europe and Asia are competing to deploy smart cards for functions from banking to retailing to telecommunications. This study analyzes factors that contribute to the implementation of smart card technology, focusing on smart card and magnetic card technologies in the financial industry in Turkey. The paper examines the effects of technological and business factors on Turkish banks, such as Akbank, Deniz Bank, Garanti Bankasi, and Tekstil Bank. The business factors are budgeting, culture, customization, and loyalty, and the technical factors are infrastructure, multi-functionality, payment speed, and transaction security. This exploratory study will assist international and local entrepreneurial entrants to the financial industry in Turkey, in taking advantage of smart card technology.