TESK's Call for Credit Card Commission Reforms: Impact on SMEs and Market Dynamics

The General Chairman of the Turkish Confederation of SMEs and Artisans (TESK), Bendevi Palandöken, has called for a review of credit card commission rates, stating that 'the labor of small businesses should not be handed over to commissions. The cost of the card payment system should not be imposed on small business owners.' TESK emphasized that this reform is critical to improving the financial situation of small businesses and ensuring stability. High credit card commission rates in Turkey pose a significant financial burden on small businesses. The impact of this demand on market competition and the SME economy is drawing attention from financial regulators and the Central Bank. In Turkey, average credit card commission rates range between 2.5% and 3.5%. Reducing these rates could enhance the payment capacity of small businesses and support economic growth. However, strengthening the regulatory framework will be necessary for the implementation of this reform. It is estimated that 45% of credit card usage in Turkey is by small businesses. An increase in this rate could raise the financial costs of small businesses and negatively affect market competition. This situation could negatively impact employment and economic growth in Turkey. Reducing credit card commission rates in Turkey is critical to improving the financial situation of small businesses and ensuring stability. Implementing this reform could positively impact market competition and the SME economy in Turkey. Reducing credit card commission rates could enhance the payment capacity of small businesses and support economic growth. Implementing this reform could positively impact employment and economic growth in Turkey.