20.01.2025 15:53
The scope of the 'Payment Request' service developed by the Interbank Card Center and the Central Bank of the Republic of Turkey has been expanded to include not only individual payments but also business-to-business and e-commerce payments. Users can now benefit from new functions that provide flexible payment management.
The interbank card center (BKM) and the Central Bank of the Republic of Turkey (TCMB) expanded the scope of the digital solution "Payment Request" service, which was launched last year, to include not only individual payments but also inter-business payments, e-commerce payments, and shopping transactions, with the addition of new features.
EXPANDING SCOPE WITH "PAYMENT REQUEST"
According to a statement from BKM, interest in the "Payment Request" service, which enriches the world of payments with the possibilities of technology, is increasing every day. The new features added to the service provide users with a broader payment experience. With its expanded scope, "Payment Request" now offers various advantages not only for individual users but also for corporate users, becoming usable in many areas from business-to-business (B2B) payments to e-commerce transactions and even shopping payments, thus initiating a new era in digital payment experience.
EASE OF PAYMENTS WITH FAST
Working in conjunction with the Instant and Continuous Transfer System (FAST) operated by the Central Bank and developed and managed by BKM, "Payment Request" has been facilitating the payment processes of thousands of people since its launch on January 22, 2024. Thanks to the service, which has reached nearly 1 million transactions to date, the amounts requested by those who want payments are easily transferred to their bank accounts. While the number of users of "Payment Request" is increasing every day, 285,000 people have requested payments from their counterparts through this service so far. When examining the payment requests by amount, it was observed that 32% of the requests were for transactions in the range of 0-500 lira.
On the other hand, "Payment Request" requests exceeding the FAST transaction limit of 100,000 lira can also be easily made via bank transfer.
PAYMENT DATE CAN BE SELECTED IN ADVANCE
With the expansion of the "Payment Request" service, the date of payment can now also be selected in advance. The person making the request can activate the "early payment" option if they wish, allowing the person they requested payment from to complete the payment before the payment date. Additionally, newly added functions such as partial payment and postponement make the payment process more flexible.
EARLY PAYMENT IS POSSIBLE IN THE NEW ERA
Among the new functions, "early payment" allows users to manage payments flexibly by making payments before the due date. With "partial payment," instead of completing the entire requested payment, partial payments can be made, offering a flexible payment process. The "payment postponement" option allows corporate clients to postpone payments, contributing to liquidity management in commercial transactions.
NEW SERVICES CAN BE UTILIZED THROUGH THE APPLICATION
To individually benefit from the service, it is necessary to access the FAST menu through the mobile application / website of the bank used and click on the "Payment Request" option. Then, through the relevant screen, a payment request can be easily sent to an IBAN, QR code, or a previously defined Easy Address. The payment request is sent to the debtor as an SMS or instant notification, and the debtor can complete the payment by following the steps here. The same steps are followed for corporate payment requests, while a special interface (API) channel is available for e-commerce and face-to-face payments at member merchants.