The Central Bank of the Republic of Turkey announced that it has activated the FAST Secure Payment Transaction Layer Service for payment transactions requiring approval. The transaction limit in the system, which will be used especially in the purchase and sale of second-hand vehicles, was also announced.
The Central Bank of the Republic of Turkey (CBRT) announced that new steps have been taken regarding FAST money transactions. Accordingly, FAST Secure Payment Transaction Layer Service was activated for payment transactions requiring approval.
CBRT says that the service, which started to be used as of May 31, will provide a controlled environment for payments requiring approval/registration. Primarily Second hand vehicle buying and selling transactions It also states that it will be used in business models that require assurance to the parties, including:
There is a limit of 2 million TL in the first stage
Apart from these, in the first stage of the FAST Secure Payment Transaction system 2 million TL transaction limit It has also been stated by the CBRT that it can be used within the scope of It is also stated that the amount will be kept at the FAST participating organization until the processes are completed. In this way, the parties providing assurance is intended.
The system will guarantee to the user who will send the payment that the fee will not be transferred to the other party before the approval or registration process is completed, and to the person who will receive the payment that the money will be transferred to the account when the transaction is completed. CBRT thinks that the secure payment system will become widespread rapidly.