The CBRT announced that payment and electronic money institutions will be included in the FAST system. The process will be completed in 2023.
As of January 8, 2021, it has fully entered our lives. FAST systemgreatly relieved bank customers about money transfer. Another important announcement was made today about the system that allows 24/7 fast money transfer.
Central Bank of the Republic of Turkey (CBRT), payment and electronic money institutions will also participate in the FAST system. explained. The shared statement pointed to the year 2023.
Electronic payment institutions are also included in the FAST system:
According to the Central Bank’s statement, Payment and Electronic Money Institutions will be included in the FAST system in 2023. Thus, the FAST system is no longer just for banks, through payment institutions. can be used.
In other words, Papara, Paytr, Turkcell, Vodafone, Vepara, Iyzi, Fastpay and many payment instruments will be included in the FAST system.
According to the Central Bank, this move will support the increase of competition and innovation in the field of payments and contribute to the delivery of new and value-added services.
Payment institutions will have the opportunity to offer 24/7 fast money transfer service within the FAST system.
FAST Workplace Payments are also coming in 2023!
The CBRT also announced that the necessary preparations for FAST Workplace Payments have been completed. From the first quarter of 2023 FAST Workplace Payments shared to be made available.
Source :
https://www.tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Duyurular/Basin/2022/DUY2022-53