Central Bank of the Republic of Turkey in many parts of the world by using the "FAST" system also comes into play in Turkey. Instant retail payment application What is this new system known as the Instant and Continuous Transfer of Funds (FAST) System? How does it work? What are their contributions to the economy?
banks in Turkey today (Friday January 8, 2021) started to use the new system, Central Bank of Turkey (CBT) was developed in-house and included in the application.
Public and private banks will implement them throughout the country after developing their pilot applications and tests. In the FAST System, it is foreseen to increase the limits of monetary transactions to higher levels and to make payments with data matrix. In this way, the digital economy and digital banking will be at the next level. What is the FAST system, what is it for, how is it used? Thanks to this new system, which allows money transfers between the accounts of the investors and all citizens in banks without interruption, 24/7, waiting for money will be a date. Payments made using the FAST System will be made much easier and much faster by using information such as phone number, ID number or e-mail address.
