Papara users will be able to instantly transfer money via FAST with their Papara IBANs 24/7 and match their Papara IBANs with Easy Address. They will also be able to transfer money from Papara to Easy Address within seconds.
Domestic financial technology company Papara has completed its FAST integration. With this development, IBAN was defined for each Papara account. Papara users, who have been waiting for this feature for a long time, will be able to receive instant money transfers via FAST with their Papara IBANs 24/7, and will be able to define an Easy Address to their Papara IBANs.
The Central Bank of the Republic of Turkiye (CBRT), which launched the Instant and Continuous Transfer of Funds (FAST) payment system in 2021, which enables instant transfer of amounts under ₺20 thousand from bank to bank, announced that some electronic money and payment institutions will be included in the FAST system in late 2022. Papara was included in FAST in February 2023.
Instant money transfer can be made 24/7 with FAST
Papara users can see their Papara IBANs right below their Papara numbers when they open the application. By defining IBAN to their Papara accounts, Papara users will be able to instantly transfer money from all their other accounts with IBAN 24/7, and from all their other accounts to their Papara accounts within seconds.
24/7 transfer from Papara to Easy Address
Papara users can instantly transfer money 24/7 to any of their information such as phone number, e-mail address, identity number, tax identification number, passport number. In addition, while you can transfer any amount of money to Easy Address, amounts under ₺20 thousand are instantly transferred to the recipient’s account with FAST, regardless of which bank the account is in.
Source: Egirisim / Prepared by Irem Yildiz