The CBRT’s press release No. 2022-13, dated 14 February 2022 and titled “Press Release on the Use of the FAST System as a Payment Method in Shopping (2022-13),” announced new rules on the FAST limit and on TR QR Code payment systems.
It was decided to raise the FAST limit, which had been increased to TRY 2,000 on 4 August 2021, to TRY 5,000 as of 21 February 2022. Because of inflation, and because the controlled use of the FAST system up to TRY 2,000 has been successful for some time, this amount has been raised to TRY 5,000.
So, does the regulation contain anything other than the FAST limit?
Yes. Along with the communiqué, it was announced that the infrastructure is also ready for merchant payments in shopping made through the FAST system using “TR QR Code,” allowing transactions of up to TRY 10,000 in a single payment.
As TR QR Code becomes widespread, our citizens will be able to scan the payment QR code generated by the merchant with their mobile apps while shopping and make an instant payment through the FAST system infrastructure.
We can say that with TR QR Code payments, the physical use of cards will decline even further and instant payments will become more common in our lives. In the coming period, we can say that the use of static and dynamic QR codes will become more widespread and will be used in every moment of life.
You can reach the CBRT’s press release at the link below.
https://tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Duyurular/Basin/2022/DUY2022-13
