Secure Payment System for Real Estate Sales Will Start on December 1

The Ministry made a statement regarding the Secure Payment System application in real estate sales.

In the statement, it was reminded that the Regulation on Real Estate Trade was amended on April 29, in order to prevent the buyer and seller parties from being exposed to the risk of fraud and forgery in real estate sales, to reduce informality, and to carry out money transfer in a safe environment. The statement was included.

In the statement, it was stated that the technical studies required for the implementation of the system are being carried out intensively in cooperation with the General Directorate of Land Registry and Cadastre (TKGM), and in this context, it was reported that the technical infrastructure for data sharing between TKGM information systems and banks has been prepared and that studies on banks to establish their technical infrastructure are continuing.

Implementation will start on December 1

In the statement, which also provided information about the implementation date, the following was noted:

"With the amendment to the regulation, it has been decided to re-determine the compulsory implementation start date of the system as December 1, in order to ensure that the system operates effectively, safely and uninterruptedly with all its elements, to complete the technical infrastructure and integration processes between the relevant stakeholders, to prevent technical and operational problems that may occur in practice, and for the relevant institutions and organizations and sector stakeholders to complete the necessary preparations. In addition, a change has been made to determine an integrator in order to facilitate and accelerate the sharing of data between TKGM information systems and banks and the establishment of the technical infrastructure. On the other hand, "It is envisaged that a pilot application for the system will be launched after the bank infrastructures are ready."