The "Easy Addressing System" is one of the layered services of FAST (Instant and Continuous Transfer of Funds), the payment system developed by the Central Bank of the Republic of Turkey (CBRT). It is developed and operated by BKM.
Detailed information about Easy Addressing can be found in the article below:
Why is KOLAS useful?
Instead of memorizing or looking up an IBAN, the user can send money using the recipient's phone number or email address. The system routes this information to the matching account and displays the recipient's name for confirmation before the transaction.
This approach reduces errors from incorrect IBAN entry and simplifies small-value transfers. When used together with FAST, the transfer is completed instantly.
From a security standpoint, displaying the recipient's name is important; the user can verify that the money is going to the right person before approving the transaction.
Who uses it?
It is used in many scenarios, such as person-to-person money transfers, payments to tradespeople, and small-value collections by businesses. For security, the recipient's name shown on screen before the transaction must always be checked.
