The new card product, called Axess, is the worlds first chip-based credit card combining real-time rewards and cash back features. Already, the number of participating merchants has reached 2,500 retail outlets just days after the launch.

Akbank aims to become a leading player in the plastic cards market with Axess as part of the country's planned migration from magnetic-stripe cards to chip cards. In addition to alternative payment solutions, the Axess card is enhanced with smart marketing applications such as cash back and instant delivery of targeted incentives based on Recency, Frequency, and Monetary Value. The cash back application gives cardholders’ back a percentage of all cumulative purchases available instantly as currency for the upcoming purchases at participating merchants.

"Turkey is a very important credit card market and one of the more dynamic regions for chip migration in Europe," said Aneace Haddad, president and CEO of Welcome Real-time.

"Axess' real-time rewards and cash back features combined in a single, convenient payment process, place Akbank and Turkey at the forefront of bankcard marketing and technology worldwide. Customers don't have to remember to pull out pieces of paper or other cards, or worry about missing out on valuable rewards and discounts. "