The era of “Secure Payment System” in second-hand vehicles

With the system, the seller will first initiate the secure payment process, then the buyer will deposit the money to the intermediary institution with the reference number before going to the notary. After the sale is approved, the money waiting in the secure account will be transferred to the seller’s account immediately.

The Secure Payment System, developed by the Ministry of Commerce to make second-hand vehicle shopping much safer, will become mandatory as of September 27.

In the statement made on the Ministry’s social media account, information about the application was given.

The post reads, “We are switching to a new system that will make second-hand vehicle shopping much safer and completely eliminate fraud cases. The Secure Payment System, implemented in cooperation with our Ministry of Trade and the Turkish Notaries Union, will become mandatory as of September 27.”

How the system will be implemented was also conveyed through video.

Accordingly, with the system that will ensure that fraud cases will become history, the seller will first initiate the secure payment process, then the buyer will deposit the money with the reference number to the intermediary institution before going to the notary. After the sale is approved, the money waiting in the secure account will be transferred to the seller’s account immediately. Thus, vehicle purchase and sale transactions will be secured.

Tags