Halkbank announced that it has developed a Secure Payment System that makes second-hand vehicle purchases and sales transactions faster, easier and more reliable.
According to the statement made by Halkbank, the risks arising during the payment of contracted amounts in second-hand vehicle purchase and sale transactions were completely removed with the guarantee of Halkbank.
Notaries Union of Turkey was reset due to the possibility of a fraud, Secure Payment System works integrated with the infrastructure. Thanks to the system, buyers will make the payment when the vehicle they purchased is registered in their name. Sellers will know that the payment of their vehicles is under the guarantee of Halkbank until the very last moment.
‘’We brought Halkbank assurance to second-hand vehicle trading.’’
Osman Arslan, General Manager of Halkbank stated that they identified some risks that would adversely affect the liveliness of the second-hand vehicle market and that they developed a special solution to eliminate these problems.
Emphasizing that they are trying to integrate the possibilities of digital technology into all shopping processes, Arslan said:
“We believe that a safer and more reliable execution of commercial transactions and faster completion of trades will also serve the vitality of the second-hand vehicle market. Until today, both parties have had some justified concerns in second-hand vehicle purchase and sale transactions. To alleviate the concerns of the sellers, most of the time, buyers carried cash with them. Trading in this way, especially when there was an epidemic, created other risks. We and Turkish Turkey Union of Notaries eliminated these concerns and brought Halkbank assurance to second-hand vehicle trading. ‘’
Operation of the Secure Payment System
According to the Halkbank Secure Payment System, the amount of the vehicle is kept in the account until the seller and buyer complete their registration at the notary. When the registration process is completed, the blockage of the amount is unblocked, and the money is transferred to the seller’s account.
Sellers and buyers can easily cancel the system before the notary registration process, and in case of cancellation, the sales amount is returned to the account holders.
In this context, the seller first creates an application record in the Secure Payment System. Then, the reference number for the transaction is sent to the seller and the buyer by message. After this, the buyer logs into the system with the reference number created on his behalf and sends the price of the vehicle to the Halkbank Secure Payment Account, which is sent via message. Thus, the relevant amount in the account is taken under the guarantee of Halkbank as the cost of the vehicle.
After the seller and the buyer complete the registration of the vehicle at the notary, the price of the vehicle sent by the buyer to the Halkbank Secure Payment Account is transferred to the seller’s account at Halkbank.
source: AA / translated by Melisa Karayusufoglu