Param, Turkey’s leading fintech company, has obtained the FAST license, a certification previously held only by banks. The FAST (Instant and Continuous Transfer of Funds) and Kolay Adresleme (Easy Addressing) services are now available to users with Param’s technology and security.
As a holistic financial services provider, Param has received its certification for the FAST system, which electronic money institutions have recently joined. This allows users to conduct 24/7 money transfers using the FAST system through Param’s infrastructure and technology, backed by its trusted security.
Param’s mobile infrastructure now offers users the advantages of FAST, Kolay Adresleme, and a FAST IBAN. A single FAST transaction can be made up to a maximum of 100,000 TL. Param users will receive their own FAST IBAN, and this feature is available to users who have personalized their cards.
Transfer Funds Without an IBAN, Using Personal Information
By linking an Easy Address (KOLAS) to their FAST IBAN, users can transfer money more quickly. This allows them to send and receive money to and from anyone using just a phone number or email address.
Emin Can Yılmaz, Founder and CEO of Param, stated that the company operates with the vision of making life easier for everyone, everywhere, through financial technologies. “We continue to add new value to our customers, our industry, and our economy by constantly strengthening our technological infrastructure,” he said. “In this context, we are pleased to be one of the first to implement the FAST system for electronic money institutions. With this development, which adds speed to Param’s speed, our users can now benefit from the FAST and Kolay Adresleme (KOLAS) features. We will continue our work to make all financial products and services within the Param ecosystem more accessible and convenient for our users.”