The Central Bank of Türkiye has put into use new features for the FAST Request-to-Pay Overlay Service, extending access beyond individuals to include corporate users. The changes enable payments between businesses and allow businesses to initiate request-to-pay demands in transactions with individual users. The service now supports partial payment and early payment across all payment types, while a delay payment function has been activated for payments initiated by corporate users, with the new features available since January 18, 2025. The Bank also reported that the FAST instant payments system had 42 participants in 2024, spanning banks and payment and electronic money institutions, and averaged 13.8 million transactions per day in December 2024.
Central Bank of Türkiye 2025-01-24
Central Bank of Türkiye expands FAST Request-to-Pay to corporates and adds partial, early and delay payment features
The Central Bank of Türkiye has expanded the FAST Request-to-Pay Overlay Service to include corporate users, enabling business-to-business payments and request-to-pay transactions with individuals. New features include support for partial, early, and delayed payments for corporate-initiated transactions. In 2024, the FAST system had 42 participants and averaged 13.8 million transactions daily in December.