This study examines whether digital transformation has occurred in Turkey's financial markets within a conceptual and empirical framework. The impact of digital technologies on the financial system is addressed in the context of payment systems, banking applications, and investor behavior. Studies in the literature show that digitalization plays a critical role in economic growth, financial inclusion, and combating the informal economy. These findings are supported by data from the Interbank Card Center (ICC) and the Central Bank of the Republic of Turkey (CBRT) in the case of Turkey; they are analyzed through the rapid increase in card spending volume, online payments, and contactless transaction rates during the 2020–2024 period. Empirical findings reveal that the card payment volume increased approximately eightfold within five years, the share of online transactions in the total volume rose significantly, and the number of bank cards exceeded 400 million, expanding financial access. These results show that digital transformation in financial markets is more than a technological innovation; it is a structural transformation. The study evaluated the findings within the framework of scenario analysis and discussed the possible effects of digitalization on financial stability and inclusiveness through optimistic, pessimistic, and balanced scenarios. Constraints, practical implications, and recommendations for future studies are also presented. The findings demonstrate that digital transformation in Turkey's financial markets is no longer a future expectation but a reality supported by concrete data.