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The following statements were made in the statement made by the Central Bank:
“Central Bank of the Republic of Turkey (CBRT) that a new generation of instant retail payment applications 7/24 developed an internal system of instant and continuous transfer funds (FAST), after completing the ongoing pilot tests with banks , on January 8, 2021 (today) was put into operation over the years.
With FAST System, the Republic of Turkey registered system of electronic payments, identification number (account identification information), phone number and email address is also available which allows an easy and practical way to start Easy Addressing System .
To closely monitor its widespread use, the FAST System was initially started with a limit of 50 TL. This limit will gradually increase up to 1000 TL depending on the prevalence of use.
The FAST system will make significant contributions to the digital economy by increasing transaction limits to higher levels and adding new value-added features such as square code payments and requesting short-term payments.
It is presented to the public. “
