Transition to Digital Economy Through 24/7 EFT! | Turkey News

Transition to Digital Economy Through 24/7 EFT!

Transition to Digital Economy Through 24/7 EFT!

There are successful pilot runs of instant retail payments through the FAST System! The Central Bank of the Republic of Turkey has made a statement concerning this issue. The systems of digital economy 24/7 instant retail payment will be operational as of the date of January 8.

Instant Payment Through the FAST System!

Instant and Continuous Transfer of Funds (FAST) system will be operational as of today. Most importantly, following the completion of the pilot runs. The FAST application enables you to render your electronic payments with your ID number registered in the system. It is a practical and fast system enabling people to transfer money 24/7.

Easy Addressing System!

The FAST easy addressing system enables you to record your phone number and e-mail account in the system. To sum up, it is a practical system that will enable the application to be started easily and practically!

₺50 Limit Will Gradually Increase!

You will be able to render payment 24/7 through the FAST which is a very simple and practical application.

Moreover, transaction limits will increase to higher levels!

The initial limit for the system is ₺50. This limit will gradually increase to ₺1.000 TL depending on the efficiency and prevalence of the application.

England Signs the First Free Trade Agreement with Turkey After Brexit!
According to a statement of the UK Ministry of Trade, after Brexit, the first free trade agreement will be signed with Turkey today. Following the trade agreements between EU countries.

Value-Added by QR Code Payment!

The FAST is a practical payment system. It is planned to proceed to the QR code payment system following the increase in the usage rate of the FAST system.  Moreover, different additional features will provide great value. They will come into service within the application according to the process.

Along with being practical, the most important benefit of this system is that it’s a bridge for the transition to the digital economy in Turkey!

Related posts

Turkey Defense and Aerospace Products Export of 1 Billion Dollars!

Turkey has exported about 1 billion dollars worth of defense and aerospace products in the first...

Continue reading

EBRD: 13 Billion Euro Investment in Turkey to date

Basso, president of the European Bank for Reconstruction and Development (EBRD), briefed the...

Continue reading

Turkey Has Provided the Highest Liquidity Support Among G20 Countries!

Turkey has become the country that provided the most liquidity support to its citizens among the...

Continue reading