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CBRT - The FAST system has been put into service

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New generation instant retail payment service available 24/7, the Instant and Continuous Transfer of Funds (FAST) system started operating on Friday, the Central Bank of the Republic of Turkey (CBRT) announced in a press statement released on Friday.

NEWS IN ENGILSH 08.01.2021, 10:14
CBRT - The FAST system has been put into service
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"Along with the FAST System, the Easy Addressing System, which makes it easier to initiate electronic payments by using registered Turkish ID numbers, phone numbers or e-mail addresses, is also in operation now" read the statement an went on as follows:
"The FAST System has been launched with a limit of TRY 50 to monitor closely the extent of use as an initial step. This limit will be increased gradually up to TRY 1000 in view of the extent of use.
"Through the integration of new value-added features such as increasing the transaction limits to higher levels and demanding payments via QR code in the near term, the FAST System will provide major contributions to the target of a state-of-the-art digital economy."
 

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