Payments/TR
Türkiye
ISO TR · 3 schemes
Summary
- TR QR Code is the national standard (August 2020)
- FAST instant payment system launched January 2021
- 4.6 billion FAST transactions in 2024 (+41% YoY)
- 271% growth in QR code payments (2024)
- CBRT operates core infrastructure
Banking landscape
Central Bank
- Name: Central Bank of the Republic of Türkiye (CBRT/TCMB)
- Website: https://www.tcmb.gov.tr/
- Role: Monetary policy, FAST system operator
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Ziraat Bankası | State-owned | Ziraat Mobil |
| 2 | İş Bankası | Private | İşCep |
| 3 | Garanti BBVA | Private | Garanti BBVA Mobile |
| 4 | Akbank | Private | Akbank Mobile |
| 5 | Yapı Kredi | Private | Yapı Kredi Mobile |
Market Structure
- State banks: Ziraat, Halkbank, Vakıfbank
- Private leaders: İş Bankası, Garanti, Akbank
- BKM: Interbank Card Center (overlay services)
- Digital wallets: Papara, Tosla, Param
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| FAST | CBRT | Instant payment | Active |
| TR QR Code | CBRT/BKM | QR standard | Active |
| EFT | CBRT | Bank transfers | Active |
| KOLAS | BKM | Easy Addressing | Active |
FAST System Statistics (2024)
- 4.6 billion transactions (+41% YoY)
- 271% QR payment growth
- 24/7 operation
- Real-time settlement in central bank money
FAST Features
- Instant fund transfers
- QR code payments
- Request-to-Pay
- Escrow functions
- Easy Addressing (KOLAS)
QR code standards
TR QR Code
| Attribute | Value |
|---|---|
| Launch | August 21, 2020 |
| Regulator | CBRT |
| Format | EMVCo compliant |
| Operator | BKM (overlay services) |
TR QR Code Features
- Interoperability across ecosystem
- Standardized structure and rules
- Merchant-presented (static/dynamic)
- Customer-presented
- Supports innovative payment services
QR Code Types
| Type | Description | Use Case |
|---|---|---|
| Static | Fixed merchant info | Small merchants |
| Dynamic | Transaction-specific | Retail, secure |
| Long QR | EMVCo compliant | Merchant-presented |
2024 Transaction Limits
| Type | Limit |
|---|---|
| FAST Transfer | TRY 100,000 |
| Dynamic QR Payment | TRY 250,000 |
- Limits increased April 4, 2024
- Transfer: from TRY 50,000 to TRY 100,000
- Dynamic QR: from TRY 100,000 to TRY 250,000
Mobile payment apps
| App | Provider | FAST | TR QR |
|---|---|---|---|
| İşCep | İş Bankası | Yes | Yes |
| Garanti BBVA | Garanti | Yes | Yes |
| Akbank Mobile | Akbank | Yes | Yes |
| Papara | Papara | Yes | Yes |
| Tosla | Akbank | Yes | Yes |
Bank Mobile Apps
- All major banks integrated with FAST
- TR QR support across platforms
- KOLAS (Easy Addressing) enabled
Digital Wallets
- Papara: Leading fintech wallet
- Tosla: Akbank subsidiary
- Param: P2P payments
- Paycell: Turkcell telecom
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| TR QR Code | National QR | EMVCo | Universal | tr-qr-code |
| FAST | Instant payment | CBRT | 4.6B txns | fast |
| KOLAS | Addressing | BKM | Growing | — |
Sources
- CBRT - TR QR Code Regulation
- CBRT - FAST System QR Press Release
- CBRT - 2024 Limit Increase
- World Bank - FAST Turkey Case Study
- Transfi - Turkey Payment Rails
- Lightspark - Instant Payments Turkey
- Thunes - Turkey Digital Payments
- FTN News - FAST Limits 2024
- SRP Legal - December 2024 Report
- QR Code Tiger - Turkey QR
Full country report
Schemes
Standards
Mentioned · 1