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PART I: INTRODUCTION
GROWTH OF BUSINESS CARDS
CONTINUED IN 2015
The Bank tried to maximize customer
satisfaction by adding product features, services
and campaigns to VakıfBank BusinessCard,
which is intended for existing and new loan
customers in the corporate, commercial and
especially SME segments.
Segmentation efforts have been initiated
in line with the growing commercial credit
card portfolio, as the Bank is working to
develop new products which appeal to
specific segments and customer groups.
BusinessCard turnover continued to grow in
2015 as in the previous year and rose 23%. The
number of cards in circulation was up by 10%,
and BusinessCard loan receivables increased
by 11% during the period. VakıfBank’s market
share in BusinessCard turnover materialized as
7.43%, ranking the Bank at sixth place in the
market.
TERCİH CARD WITH NO CARD FEES
VakıfBank launched the Tercih Card product for
customers who are fee-sensitive and do not
want to pay annual card fees. In 2015, Tercih
Card offered its users special installments,
Worldpuan points and discount campaigns
according to their shopping habits.
With the Tercih Card, customers pay only
for the features and campaigns they choose
to use, and are exempted from annual card
fees. Tercih Card holders can benefit from
basic World advantages such as Worldpoints
earned at VakıfBank and World merchants or
complimentary installments. Special campaigns
for additional installments, deferments,
Worldpoints, and discount campaigns, as well as
other services, are provided for VakıfBank credit
card holders in exchange for specified fees.
VakıfBank merchant network expanded to
144,313 members as of year-end 2015. The
Bank’s merchant turnover increased 20%
year-on-year; with a market share of 5.83%,
the Bank ranks fifth among banks that offer
merchant services. The overall merchant
services market generated TL 549 billion in
turnover, up by 14% YoY in 2015.
In 2015, the Bank carried out new generation
applications and campaigns to increase the
scope, turnover and efficiency of its merchant
network.
TRANSITION TO CASH REGISTER POS
DEVICES
The Bank made the necessary changes for
businesses that are required to use new
generation POS cash registers pursuant to new
regulations; as a result, VakıfBank’s applications
were made compatible with TÜBİTAK-approved
new generation payment recording devices.
In addition, VakıfBank offered discounts,
installments, points, and advantages to help
merchant customers procure POS cash registers.
In response to this new legislation, the Bank
completed the necessary software updates for
the Fixed POS and PC-connected Cash Register
POS, planned for launch in the coming period,
rendering VakıfBank POS payment infrastructure
ready for the transition.
V-POS RENEWED
In order to provide more dynamic, faster,
and more secure services, and to meet all
the demands of contracted merchants in
line with changing customer needs and
advances in technology, improvements to
the Bank’s Virtual POS infrastructure have
been completed, and new V-POS products
were offered to contracted merchants.
With its advanced features, the new V-POS
product offers contracted merchants swift and
practical payment solutions over the Internet
and easily meets needs such as reconciliation,
reporting management etc. for collections
thanks to its user-friendly interface.
V-POS product enables the Bank to offer
Recurring Collection System (TTS) service to
schools, insurance agencies, housing projects,
associations etc. which receive regular
payments and/or perform card-free (Mail-
Order) transactions. Recurring Collection System
allows contracted merchants to carry out their
collections regularly after entering customer
data, payment times and payments methods
to the system once, without need for any
additional software.
AGRICULTURAL OPERATIONS
NOW EASIER WITH TARIMPOS
Designed especially for agriculturalists,
“TarımPOS” (Agricultural POS) allows Tarım
Kart (Agricultural Card) holders to shop for
seeds, saplings, fertilizers, pesticides, animal
medicine and veterinary services by enjoying
discounts, installments and interest-free periods.
VakıfBank TarımPOS offers contracted merchants
advantages such as swift and instant collection,
special campaign prices for TarımPOS, and
payment in advance and installment schemes
aligned to harvest time which suit Tarım Kart
holders.
Member Merchants
2011
Market
Share 2012
Market
Share 2013
Market
Share 2014
Market
Share 2015
Market
Share
Number of POS Devices
81,625 4.13% 104,776 4.91% 130,215 5.68% 150,668 6.31% 172,546 5.97%
Member Merchants Turnover (TL million)
12,070 4.11% 16,563 4.53% 21,447 5.01% 26,649 5.61% 31,983 5.83%
NEW DEVELOPMENTS IN MERCHANT SERVICES
