Target: TROY - Türkiye’s Payment Method Operator: Bankalararası Kart Merkezi A.Ş. (BKM) Jurisdiction: Türkiye Research date: 26 October 2026 Scope: Public corporate communications, political advocacy, occupied-territory operations, governance, financial contributions, state partnerships, and executive conduct.
Entity identification: The audited TROY is the Turkish payment-card scheme established within BKM in 2016; the supplied name alone did not identify a unique company, so this identification requires confirmation before integration.1
Corporate Communications & Public Stance
Official corporate positioning
TROY describes itself as Türkiye’s national payment method, established in 2016 within BKM to develop the country’s financial technology and payment infrastructure.1
TROY’s official FAQs state that its payment infrastructure enables transaction fees and commissions to remain within Türkiye and supports domestic financial autonomy.2
TROY’s published corporate materials promote secure transactions, widespread domestic acceptance, international interoperability, and cooperation with banks and payment-service providers.1, 3
Israel-Palestine statements
No public evidence identified of an official TROY or BKM corporate declaration expressly supporting Israel’s military operations, Israeli settlement expansion, or the occupation of Palestinian territory.
No independently verified formal TROY/BKM statement specifically condemning Israeli military operations in Gaza was identified.
Third-party political positioning involving TROY
On 29 November 2023, the Turkish consumer federation Tüketici Birliği Federasyonu publicly urged consumers to replace Visa and Mastercard with TROY as part of its Gaza-related “CEPHANE BİZDEN DEĞİL” boycott campaign.4
The federation’s president, Mehmet Bülent Deniz, argued that Turkish consumers should redirect payment-card usage toward TROY because it is a domestically operated alternative to international payment networks.4
In November 2023, TRT World reported that consumers were switching to TROY following calls to boycott Visa and Mastercard over their perceived relationship with Israel.5
These statements were made by campaign organisers and consumers; the reviewed sources do not establish that TROY or BKM directed the boycott campaign.4, 5
Comparative public posture
TROY’s corporate communications emphasise economic independence, domestic financial infrastructure, and technological development.1, 2
No public evidence identified of comparable official TROY/BKM statements concerning Ukraine, Black Lives Matter, COVID-19-related social issues, or other international conflicts.
Market framing
TROY’s official description presents international activity as commercial payment interoperability, with foreign transactions dependent on participating international card networks.2
TROY’s FAQs identify Discover and Diners Club among the international acceptance networks relevant to overseas use.2
A December 2025 Habertürk analysis discussed TROY’s limited international reach and its relationship with the international payment-card networks, framing the issue primarily around market access and domestic payment-system competitiveness.6
No public evidence identified of TROY describing Israel or the occupied Palestinian territories as a special strategic market.
Operations in Occupied or Contested Territories
Territorial presence
TROY identifies Türkiye as its principal operating market and confirms domestic acceptance through ATMs, merchants, and online payment channels.1
International acceptance depends on additional international card-scheme arrangements and the relevant acceptance network.2
The official member directory identifies Turkish banks and electronic-money institutions that issue TROY cards, including Akbank, Garanti BBVA, İşbank, Ziraat Bankası, and Vakıfbank.3
No public evidence identified of a TROY-owned office, subsidiary, acquiring operation, or directly contracted payment-processing facility in the occupied West Bank, East Jerusalem, Gaza, or occupied Syrian Golan.
No independently verified evidence identified of a TROY-branded settlement merchant, settlement-based acquiring partner, or contract supporting Israeli settlement operations.
International network relationships
TROY confirms that some cards operate internationally through additional international payment-network logos.2
The existence of such arrangements does not identify a particular Israeli merchant, acquiring bank, government agency, military unit, or settlement as a TROY counterparty.2
No public evidence identified establishing a direct TROY/BKM commercial agreement with the Israeli Ministry of Defence, Israel Defense Forces, Israeli settlement authorities, or settlement-based commercial enterprises.
Legal and regulatory scrutiny
The Central Bank of the Republic of Türkiye announced on 17 October 2025 that it had initiated an audit of BKM in February 2024 and filed a criminal complaint in December 2024 after identifying matters warranting investigation.7
The central bank stated that judicial proceedings were continuing; its announcement did not identify an Israel-Palestine connection.7
No public evidence identified of an Israel-Palestine-related enforcement action against TROY/BKM.
No verified TROY/BKM entry was identified in the UN OHCHR settlement-business database or in the target-specific material searched from UN Special Rapporteur reporting.
Civil-society and boycott history
TROY featured prominently in November 2023 campaigns encouraging Turkish consumers to boycott Visa and Mastercard following Israel’s military operations in Gaza.5
On 9 November 2023, TRT Haber reported appeals by consumer-association leader Mahmut Şahin for banks to facilitate customers’ requests for TROY-branded cards.8
On 12 November 2023, Duvar English reported that 19 district municipalities in Istanbul had switched to TROY for internal financial arrangements as part of a boycott initiative.9
Türkiye Gazetesi reported on 10 November 2023 that consumers were requesting TROY cards as an alternative to Visa and Mastercard, with social-media mobilisation around the change.10
The consumer federation’s 29 November 2023 statement expressly designated TROY as the preferred alternative within its broader boycott programme.4
A February 2024 TRT Haber article reported continuing demand for domestic TROY payment cards following boycott calls and government support for domestic payment infrastructure.11
No public evidence identified of an organised BDS campaign specifically targeting TROY for boycott or divestment.
No public evidence identified of a formal TROY/BKM response to allegations of involvement in Israeli settlements.
Internal Governance, Content & Retail Policies
Employee relations
No public evidence identified of TROY/BKM disciplining employees for Palestinian solidarity activities, wearing Palestinian symbols, participating in demonstrations, or expressing views concerning Gaza.
No public evidence identified of Israel-Palestine-related employee litigation, union disputes, or workplace speech restrictions involving TROY/BKM.
Platform and editorial policy
TROY markets payment-card processing, contactless payments, mobile payments, and related financial technology rather than a social-media publishing or editorial platform.12
GO Secure Pay is presented as a service for authenticating and securing online payment transactions.13
No public evidence identified of TROY/BKM moderating political content concerning Israel-Palestine.
No public evidence identified of algorithmic suppression of Palestinian content, Israel-related search-result manipulation, or a political content-removal policy attributable to TROY/BKM.
Retail and supply-chain practices
TROY’s official commercial offering includes business payment cards and merchant-related payment infrastructure.14
No public evidence identified of TROY/BKM producing, labelling, or categorising physical goods originating from Israeli settlements.
No public evidence identified of an official settlement-origin merchant exclusion policy, preferential treatment policy, or related regulatory proceeding concerning TROY.
Charitable matching and employee donations
No public evidence identified of a TROY/BKM employee matching programme benefiting the Friends of the Israel Defense Forces, Jewish National Fund, settlement organisations, or Israeli military-welfare organisations.
No public evidence identified of a TROY/BKM policy dispute concerning the eligibility of Palestinian or Israeli charities.
Reservist policies
No public evidence identified of TROY/BKM paying salaries to Israeli military reservists, subsidising military leave, or maintaining a military-reservist compensation programme in Israel.
Brand Heritage & State Partnerships
Corporate heritage
TROY’s official corporate history identifies its establishment within BKM in 2016 as a domestic payment infrastructure initiative.1
The central bank announced on 30 April 2020 that it had become BKM’s controlling shareholder pursuant to Turkish payments legislation.15
TROY’s positioning explicitly emphasises national financial autonomy, domestic technological capability, and retaining payment-system fees within Türkiye.2
Military heritage
No public evidence identified of TROY originating as an Israeli military, intelligence, security-service, or defence-industry project.
No public evidence identified of military heritage being used to market TROY’s payment services.
Turkish state partnerships
The Central Bank of the Republic of Türkiye’s April 2020 announcement described BKM as a systemically important payment-system operator and explained its acquisition of controlling shareholding.15
The ownership relationship is also confirmed by TROY’s current corporate FAQs.2
During February 2024, TRT Haber reported that Türkiye’s Economic Coordination Board had announced measures to encourage wider adoption of TROY across public institutions.11
Financial reporting published during 2025 described government measures making TROY the preferred payment-card infrastructure for public-sector transactions.16
Government and municipal adoption
Duvar English reported in November 2023 that Istanbul district municipalities transferred internal payment arrangements to TROY as part of initiatives responding to the Gaza conflict.9
TRT World separately identified Çorum municipality among public bodies adopting TROY in connection with the consumer boycott.5
Israeli institutional ties
No public evidence identified of TROY/BKM sponsoring Israeli government public-relations programmes, state-sponsored cultural initiatives, or Israeli military ceremonies.
No public evidence identified of TROY/BKM accepting Israeli state honours or sponsoring settlement-related public events.
No public evidence identified of a TROY/BKM non-commercial institutional partnership with an Israeli military academy, defence university, or settlement-linked governmental institution.
On 12 June 2024, Türkiye’s Social Security Institution (Sosyal Güvenlik Kurumu, SGK) and Bankalararası Kart Merkezi A.Ş. (BKM), the operator of TROY, formally signed a cooperation protocol under the Türkiye Yüzyılının Emektarları (Veterans of Türkiye’s Century) project. The agreement aimed to provide pensioners using TROY-branded debit and credit cards with special discounts, privileges, promotional offers and commercial campaigns. The signing ceremony took place at SGK’s Erdoğan Özen Conference Hall, with BKM General Manager Ozan Deniz and SGK Strategy Development President Onur Öztürk signing on behalf of their respective institutions. The initiative formed part of Türkiye’s government-designated 2024 Year of Pensioners programme.17
BKM General Manager Ozan Deniz publicly outlined three institutional commitments associated with the protocol: using TROY’s payment infrastructure to facilitate the wider availability of pensioner discounts and promotional campaigns; supporting participating banks in issuing TROY-branded cards to pensioners; and encouraging businesses and commercial brands to introduce pensioner-specific discounts and campaigns. SGK further confirmed that it and TROY would cooperate in developing cards bearing a special pensioner logo for eligible retirees who requested them. These commitments establish BKM’s documented role in supporting card issuance, payment infrastructure and merchant participation in a government-sponsored pensioner benefits initiative.17
The partnership subsequently expanded through a separate tripartite cooperation protocol between SGK, Türkiye’s Post and Telegraph Organisation (PTT) and TROY, announced by SGK on 30 July 2024. The expanded arrangement involved PTT Bank and TROY providing pensioner-specific discounts, promotional opportunities and campaigns. Deniz stated that PTT’s participation would strengthen institutional cooperation supporting TROY card provision and encourage businesses to offer pensioner benefits. This subsequent agreement provides documentary evidence that BKM’s June 2024 institutional partnership formed part of a wider government-coordinated programme involving public institutions and participating financial-service providers.18
Lobbying, Advocacy, Financing & Logistics
Political lobbying
No public evidence identified of TROY/BKM lobbying the United States, United Kingdom, European Union, or Israeli authorities concerning Israel-Palestine policy, anti-boycott legislation, sanctions, or settlement recognition.
No public evidence identified of a TROY/BKM corporate political-action committee financing Israel-related political advocacy.
Consumer advocacy involving the brand
On 29 November 2023, Tüketici Birliği Federasyonu called for Turkish consumers to boycott Visa and Mastercard and use TROY instead.4
The federation’s statement connected its campaign directly to Israel’s military actions in Gaza and advocated reducing payments to international card networks.4
The campaign was initiated by a separate consumer organisation, and the reviewed primary statement does not identify a financial contribution or sponsorship from BKM.4
TRT World reported that social-media users and consumers were encouraging wider TROY adoption as part of the boycott movement.5
A September 2025 Türkiye Gazetesi commentary linked TROY’s commercial growth to increased demand for domestic payment alternatives following the Gaza conflict.19
Financial contributions
No public evidence identified of TROY/BKM corporate donations to the Israel Defense Forces, Friends of the Israel Defense Forces, Jewish National Fund, Regavim, Im Tirtzu, Israeli settlement organisations, or Israeli military-welfare funds.
No public evidence identified of TROY/BKM financing Israeli political lobbying groups or settlement-related advocacy.
No public evidence identified of a TROY/BKM grant or financial contribution specifically supporting Palestinian humanitarian operations.
Financial-flow claims by third parties
The November 2023 consumer federation statement argued that replacing Visa and Mastercard with TROY would reduce fees paid to the international networks.4
TRT World reported similar motivations among consumers who switched their payment cards.5
The reviewed sources establish the existence of these claims and campaign motivations; they do not independently document a transaction-level transfer of TROY-related funds to any Israeli military or political organisation.4, 5
Crisis asset mobilisation
No public evidence identified of TROY/BKM donating payment infrastructure, computing resources, financial services, logistical assistance, or physical assets to Israeli military operations after 7 October 2023.
No public evidence identified of TROY/BKM providing free services or preferential financial infrastructure to Israeli military-welfare organisations during the Gaza conflict.
Conduct following international legal developments
The December 2025 Habertürk article documents continuing efforts to expand TROY’s domestic and international market position after July and November 2024.6
No verified evidence identified connecting those later commercial activities to Israeli settlement expansion, military procurement, or political advocacy.
The original Türkiye Gazetesi commentary is Canan Eraslan’s article “TROY’a bir katkı da İsrail’den…”, published by Türkiye Gazetesi on 22 September 2025. The article discusses TROY’s increased adoption following consumer reactions to Israel’s military operations in Gaza, government measures favouring domestic payment infrastructure, and statements concerning TROY’s commercial growth. It also identifies Soner Canko as a former BKM general manager involved in TROY’s earlier development. This confirms the attribution and September 2025 publication date in the existing Consumer advocacy involving the brand and Identified leadership passages. However, both passages incorrectly cite existing End Note 20, which identifies a different publication: Tüketici Birliği Federasyonu’s November 2023 article “Milli ödeme sistemi TROY’a geçişler artıyor”. The original September 2025 commentary is instead the Türkiye Gazetesi article already recorded as End Note 19. The correction required is therefore to the citation attribution in both passages, rather than their substantive findings.16, 19
Corporate Structure & Primary Mission
Legal identity
TROY is a payment-card scheme operated by Bankalararası Kart Merkezi A.Ş., rather than a separately identified publicly listed issuer in the reviewed official materials.1, 2
BKM was established as a Turkish interbank payment infrastructure organisation, and TROY operates as its domestic card-network brand.1
Ownership and control
The Central Bank of the Republic of Türkiye announced its acquisition of controlling shareholding in BKM on 30 April 2020.15
TROY’s contemporary FAQs continue to identify the central bank as BKM’s majority shareholder, alongside public and private Turkish banks.2
Foundational mandate
TROY’s official mission centres on domestic payment-system development, financial autonomy, technological innovation, and secure card transactions.1, 2
The scheme’s official documentation describes domestic use and international interoperability as part of its commercial payment infrastructure.1, 2
No public evidence identified of a foundational corporate mandate explicitly advancing Israeli geopolitical objectives, settlement expansion, or military infrastructure.
Commercial services
TROY offers individual cards, commercial payment cards, contactless transactions, mobile and wearable payments, QR payments, and related payment-security services.12, 14
The BKM Transportation Platform is described as a payment solution for public transportation systems.20
TROY’s GO Secure Pay service provides payment-authentication infrastructure for online transactions.13
Financial scale
Habertürk reported in January 2025 that TROY had reached approximately 50 million cards and an 18% share of Turkish card transaction value during 2024.21
CNBC-e subsequently reported approximately 11.55% market share by card count and 18% by transaction value, based on BKM-related statistics.22
Corporate governance
The central bank’s October 2025 announcement identified a regulatory investigation and criminal complaint concerning BKM, with judicial proceedings ongoing at that time.7
No connection between that investigation and Israel-Palestine-related activity was established in the central bank’s announcement.7
TROY’s official website identifies the audited target as Türkiye’s national card-payment scheme, operated by Bankalararası Kart Merkezi Anonim Şirketi (BKM), the Interbank Card Center. Its published privacy notice explicitly names Bankalararası Kart Merkezi Anonim Şirketi as the legal entity responsible for the TROY website and associated personal-data processing, while its FAQs identify BKM as the scheme’s owner and operator. This primary evidence confirms the existing audit’s Entity identification and Legal identity statements: TROY is a payment scheme operated by BKM, rather than a separately identified legal company. It also resolves the uncertainty expressed in the introductory Entity identification statement concerning whether the name TROY identifies the intended audited organisation.23, 2, 1
Executive & Leadership Footprint
Identified leadership
Financial reporting from January 2025 identified Ozan Deniz as BKM’s general manager and described his discussions with journalists concerning TROY’s growth and commercial development.21
The same reporting identified Cengiz Değirmenci and Sait Zekeriya Özgel among BKM representatives participating in discussions about payment-system developments.21
A September 2025 Türkiye Gazetesi commentary identified Soner Canko as a former BKM general manager associated with TROY’s earlier development.19
Personal political advocacy
No public evidence identified of Ozan Deniz, Soner Canko, or the named senior BKM representatives publicly advocating Israeli military operations, settlement expansion, or anti-Palestinian measures in their capacity as TROY/BKM leaders.
No verified personal statements concerning the Gaza conflict were identified for those individuals in the materials reviewed.
Personal financing and philanthropy
No public evidence identified of personal donations by identified TROY/BKM executives to FIDF, JNF, Israeli military organisations, settlement organisations, or Israeli political advocacy organisations.
No public evidence identified of personal donations to Palestinian political or humanitarian organisations by the identified executives.
Board positions and affiliations
No public evidence identified of identified TROY/BKM executives holding leadership positions in AIPAC, CFI, FIDF, Regavim, Im Tirtzu, or Israeli settlement advocacy organisations.
No public evidence identified of identified TROY/BKM executives serving as directors of Israeli defence, military-surveillance, or military-intelligence companies.
Post-July 2024 and post-November 2024 conduct
TROY’s continued expansion during 2024–2025 was documented in financial reporting, including the growth of card issuance and transaction value.21, 6
No verified Israel-Palestine-related executive political statements, military donations, settlement sponsorships, or advocacy activities after 19 July 2024 or November 2024 were identified in the reviewed sources.
Footnotes
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TROY, “About Us,” official corporate website, current page reviewed 26 October 2026. https://www.troyodeme.com/en/about-troy/about-us ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11
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TROY, “Frequently Asked Questions,” official corporate website, current page reviewed 26 October 2026. https://www.troyodeme.com/en/about-troy/faqs ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10 ↩11 ↩12 ↩13 ↩14
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TROY, “Our Members Offering Individual Cards,” official corporate membership directory, reviewed 26 October 2026. https://www.troyodeme.com/en/personal/members ↩ ↩2
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Tüketici Birliği Federasyonu, “Visa, Mastercard yerine artık TROY kullanıyoruz,” 29 November 2023. https://www.tuketici.org.tr/tr/news/tuketici-birligi-visa-master-card-yerine-artik-troy-kullaniyoruz/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9
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TRT World, “Turkish payment method TROY gains popularity amid boycott against Israel,” November 2023. https://www.trtworld.com/article/15750440 ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7
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Habertürk, Güntay Şimşek, “Türkiye’nin TROY’unu görmezden gelmek mümkün mü?” 31 December 2025. https://www.haberturk.com/ozel-icerikler/guntay-simsek-1019/3849937-turkiyenin-troyunu-gormezden-gelmek-mumkun-mu ↩ ↩2 ↩3
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Central Bank of the Republic of Türkiye, “Press Release on Audit Process at Interbank Card Center,” No. 2025-53, 17 October 2025. https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB%2BEN/Main%2BMenu/Announcements/Press%2BReleases/2025/ANO2025-53 ↩ ↩2 ↩3 ↩4
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TRT Haber / Anadolu Agency, “Tüketiciler Birliğinden bankalara Troy çağrısı,” 9 November 2023. https://www.trthaber.com/haber/ekonomi/tuketiciler-birliginden-bankalara-troy-cagrisi-811328.html ↩
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Duvar English, “District municipalities in Istanbul switch to Turkish payment system in Israel boycott,” 12 November 2023. https://www.duvarenglish.com/district-municipalities-in-istanbul-switch-to-turkish-payment-system-in-israel-boycott-news-63308 ↩ ↩2
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Türkiye Gazetesi, “İsrail boykotu finans sektörüne ulaştı: Visa ve Mastercard’lar TROY’a dönüyor,” 10 November 2023. https://www.turkiyegazetesi.com.tr/ekonomi/israil-boykotu-finans-sektorune-ulasti-visa-ve-mastercardlar-troya-donuyor-1001684 ↩
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TRT Haber / Anadolu Agency, “Yerli kart TROY’a talep artıyor,” 27 February 2024. https://www.trthaber.com/haber/ekonomi/yerli-kart-troya-talep-artiyor-840439.html ↩ ↩2
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TROY, “Technological Solutions,” official product information, reviewed 26 October 2026. https://www.troyodeme.com/en/personal/technological-solutions ↩ ↩2
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TROY, “GO Secure Pay,” official product information, reviewed 26 October 2026. https://www.troyodeme.com/en/corporate/go-secure-pay ↩ ↩2
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TROY, “Commercial Cards,” official product information, reviewed 26 October 2026. https://www.troyodeme.com/en/corporate/business-cards ↩ ↩2
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Central Bank of the Republic of Türkiye, “Press Release on CBRT’s Shareholding in Interbank Card Center,” No. 2020-27, 30 April 2020. https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB%2BEN/Main%2BMenu/Announcements/Press%2BReleases/2020/ANO2020-27 ↩ ↩2 ↩3
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Türkiye Gazetesi, Canan Eraslan, “TROY’a bir katkı da İsrail’den,” 22 September 2025. https://www.turkiyegazetesi.com.tr/kose-yazilari/canan-eraslan/troya-bir-katki-da-israilden-650216 ↩ ↩2
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Sosyal Güvenlik Kurumu (SGK), “SGK ile BKM Arasında TROY Kart İçin İşbirliği Protokolü İmzalandı,” 12 June 2024. https://www.sgk.gov.tr/haber/detay/SGK-ile-BKM-Arasinda-TROY-Kart-Icin-Isbirligi-Protokolu-Imzalandi-2024-06-12-06-34-26 ↩ ↩2
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Sosyal Güvenlik Kurumu (SGK), “SGK, PTT ve TROY Arasında İş Birliği Protokolü Yapıldı,” 30 July 2024. https://www.sgk.gov.tr/haber/detay/SGK-PTT-ve-TROY-Arasinda-Is-Birligi-Protokolu-Yapildi-2024-08-16-11-55-32 ↩
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Tüketici Birliği Federasyonu, “Milli ödeme sistemi TROY’a geçişler artıyor,” November 2023. https://www.tuketici.org.tr/tr/news/milli-odeme-sistemi-troya-gecisler-artiyor/ ↩ ↩2 ↩3
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TROY, “BKM Transportation Platform,” official product information, reviewed 26 October 2026. https://www.troyodeme.com/en/corporate/bkm-transportation-platform ↩
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Habertürk, Güntay Şimşek, “Yerli TROY ile ödemeler yüzde 18’e çıktı,” 6 January 2025, updated 7 January 2025. https://www.haberturk.com/ozel-icerikler/guntay-simsek-1019/3753586-yerli-troy-ile-odemeler-yuzde-18e-cikti ↩ ↩2 ↩3 ↩4
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CNBC-e, “TROY nedir? Neden kuruldu? Sahibi kim? TROY’un pazar payı ne?” 2025. https://www.cnbce.com/fintech/troy-nedir-neden-kuruldu-sahibi-kim-troyun-pazar-payi-ne-h8585 ↩
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TROY / Bankalararası Kart Merkezi A.Ş., “Contact Us” and personal-data processing notice, undated, reviewed 26 October 2026. https://www.troyodeme.com/en/about-troy/contact-us ↩