The transaction limits in the FAST system, which went live in January, have been raised periodically and reached 1,000 TL as of January 29.
The public announcement on this matter is provided below.
FAST (Instant and Continuous Transfer of Funds), the new-generation 24/7 instant payment system developed and operated in-house by the Central Bank of the Republic of Turkey (CBRT) and opened for use on January 8, 2021, has been met with strong interest, and 9 million instant payments have been made through FAST in this short time.
The number of users registered in the Easy Addressing System, which allows payments to be initiated easily and quickly using the Republic of Turkey Identity Number (TCKN), phone number and e-mail address, has reached 5.3 million.
As of today, the upper transaction limit in the FAST system has been raised to 1,000 TL. In the coming periods, FAST may operate with higher limits and with new value-added services, such as QR code payments, that will improve the user experience.
These developments, which will strengthen the core infrastructure in the payments field, are expected to make innovative financial technologies an indispensable part of life and to make very important contributions toward the digital economy goal.
More detailed information and promotional content about the system can be accessed at https://fast.tcmb.gov.tr.
This is announced for the information of the public.
The details of the relevant public announcement can be found at the link below.
https://www.tcmb.gov.tr/wps/wcm/connect/TR/TCMB+TR/Main+Menu/Duyurular/Basin/2021/DUY2021-06
