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INTRODUCTION
56
REVIEW OF OPERATIONS
IN 2014
NEW DEVELOPMENTS IN MERCHANT SERVICES
Member
Merchants
2010
Market
Share 2011
Market
Share 2012
Market
Share 2013
Market
Share 2014
Market
Share
Number of POS
Devices
73,871 4.05% 81,625 4.13% 104,776 4.91% 130,215 5.68% 150,668 6.31%
Member Merchants
Turnover (TL million)
8,272 3.50% 12,070 4.11% 16,563 4.53% 21,447 5.01% 26,660 5.55%
In addition, VakıfBank offered discounts, installments, points, and
advantages to help merchant customers procure POS cash registers.
135,576
MERCHANT MEMBERS
VakıfBank’s merchant
network expanded to
135,576 members as of
year-end 2014.
VakıfBank merchant network expanded to 135,576
members as of year-end 2014. The Bank’s merchant
turnover increased 24% year-on-year; with a market share
of 5.55%, the Bank ranks eighth among banks that offer
merchant services. The overall merchant services market
generated TL 480.3 billion in turnover, up 11% YoY.
In 2014, 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.
V-POS RENEWED
In order to provide more dynamic, faster, and more
secure service, and to meet all the demands of 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
product commenced operation at pilot merchants.
VAKIFBANK POS AVAILABLE AT MORE LOCATIONS NOW
THROUGH AMERICAN EXPRESS PRIVILEGES
The American Express Card Acceptance Service, offered by
a limited number of banks in Turkey, including VakıfBank,
is available at more retail locations thanks to VakıfBank’s
expanding merchant network.