The Central Bank of the Republic of Turkey announced that the FAST transaction limit has been increased from 5,000 TL to 20,000 TL. The BRSA, on the other hand, imposed a password requirement for the first contactless payment to be made with a card.
The Central Bank of the Republic of Turkey (CBRT), a few years ago, allowed 24/7 money transfer. FAST It had implemented an application called (Instant and Continuous Transfer of Funds). Citizens using this system in seconds he could transfer money, he was freed from the overtime requirement in EFT transactions. Now, there has been a new development regarding this service.
The CBRT has increased the FAST transaction limit of 5,000 TL so far. Accordingly, now up to 20.000 TL All money transfers can be made via FAST. For transactions over 20.000 TL, either two pieces of FAST will be required or other money transfer methods will be preferred.
A new application has also been launched for contactless features of credit cards!
According to the news of Anadolu Agency, the Banking Regulation and Supervision Agency (BRSA), gave a new instruction to banks regarding contactless payments. A password will be required during the first payment to be made with a credit card within the scope of this instruction. No password application for subsequent payments. won’t happen. The BRSA’s instruction on the subject is as follows:
“In order to prevent customers from using cards without their knowledge, card payments will be made immediately for all bank customers across our country, without being limited to the provinces where the state of emergency was declared. Ensuring password entry in first contactless transactionsIt has been deemed appropriate to continue the current practice for the next procedures.