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FAST
Current information: This post describes the limit in effect at the time of publication. The FAST transaction limit, introduced in January, was raised periodically and reached 1,000 TL as of January 29. See the newer post for the current FAST limit.
FAST
Yes. The FAST system was first launched with the participation of banks in Türkiye, and integration has been completed with 21 banks. Non-bank institutions meeting the criteria, such as payment and e-money institutions, will also be able to join.
FAST
To offer the Easy Address service, an institution needs approval from the Central Bank of the Republic of Türkiye (CBRT), documented eligibility to participate in FAST or EFT, and completed administrative and technical processes with BKM.
FAST
The Instant and Continuous Transfer of Funds (FAST) System lets customers send payment instructions 24/7 through bank systems, independent of EFT. This article explains what Easy Address is, how to register one and how transfers work.
Payment Systems
Law No. 7192 amends Law No. 6493 and brings changes on payment services, e-money and open banking, including the transfer of regulatory and supervisory powers from the BRSA to the CBRT and the addition of PSD2-style services.
Payment Systems
Store and Forward (SAF) describes offline transaction processing. It was originally developed when modems were introduced and connections were not always stable, letting terminals store transactions and forward them once connectivity is restored.
Payment Systems
When we hear “payment systems”, card transactions at POS terminals or ATMs usually come to mind. Let's look together at the payment systems recognized by the Central Bank.
Payment System Institutions
The European Payments Initiative (EPI), formerly known as PEPSI, is an ECB-backed payment integration initiative aiming to build a pan-European payment system and interbank network to rival Mastercard and Visa. Its founding members include BBVA, BNP Paribas, CaixaBank, Commerzbank and others.
ATM
FLM (First Line Maintenance) refers to service calls that require no tools or parts but are needed to return an ATM to proper working condition. It covers basic issues such as paper jams, cash jams, and restocking consumables.
HSM & Security
A Trusted Execution Environment (TEE) is an environment where executed code and accessed data are isolated and protected in terms of confidentiality (no one has access to the data) and integrity (no one can alter the code or its behavior). We may not realize it, but many…
Laws & Regulations
No. An institution issuing electronic money in Türkiye must be a joint-stock company established in Türkiye and licensed by the Board, even if it already holds a license in its home country in Europe.
Laws & Regulations
No. Companies whose shareholders are foreign individuals or legal entities can also apply for an operating license, provided documents on foreign shareholders are submitted in line with Article 61 of the Regulation.