Taşıt Takas, launched in February 2020, is now accessible via e-Devlet

A meeting was held at Borsa İstanbul to mark the completion of the e-Devlet integration for the "Taşıt Takas" application, which was implemented through a joint effort by Takasbank, the Ministry of Trade, and the Turkish Notaries Union.

Taşıt Takas, which was made available to citizens by Takasbank on February 3, 2020, was launched to prevent risks that may arise during the simultaneous transfer of vehicle ownership and the sales price.

Taşıt Takas, which has allowed for vehicle buying and selling transactions via its website and mobile application until now, has added a new channel to its services with the inclusion of the e-Devlet gateway. The integration, which brings many advantages such as enabling citizens to perform secure and fast transactions and saving time, has paved the way for further accelerating the system's robust infrastructure.

"A reliable access gateway has been opened to much wider audiences"

Takasbank General Manager and Board Member Avşar Sungurlu stated at the meeting that negotiations for the e-Devlet integration process of the Taşıt Takas service, which is accessible via the website and mobile application, began in February. He noted that the system is now available through the e-Devlet gateway, thereby opening a reliable access gateway to much wider audiences.

Expressing their great pleasure in sharing the news of the Taşıt Takas service's e-Devlet integration, Sungurlu said, "We are proud to have added a new service to the 7,416 services provided by 1,000 institutions by making the application accessible through e-Devlet in cooperation with the Presidential Digital Transformation Office and Türksat. We would like to thank everyone who contributed throughout this long and arduous process, especially the Presidential Digital Transformation Office, Türksat A.Ş., the Turkish Notaries Union, and the Takasbank employees for their valuable support."

"Work is underway on new projects"

Avşar Sungurlu noted that the system operates in an integrated structure across three different channels—the Taşıt Takas website, mobile application, and e-Devlet—to ensure ease of use, explaining that buyers and sellers can initiate transactions through whichever alternative they prefer and track the process from any channel.

Stating that the Taşıt Takas application has facilitated a total of 2 billion 554 million liras in buying and selling transactions across 6,604 operations since its launch in 2020, Sungurlu continued:

"As Takasbank, we continue our efforts to provide added value to our country's economy and to develop and expand the services we provide for the public good with every application we have offered for over a quarter of a century. With the awareness of being one of the most important components of our country's financial ecosystem, we will continue to be a secure bridge between capital and money markets and add value to capital markets with our technological infrastructure, R&D experience, and sectoral expertise."

"2023 was a year full of projects"

Takasbank General Manager Sungurlu made evaluations regarding 2023 after the ceremony.

Noting that they perform the clearing of transactions made at Borsa İstanbul at the end of the day, Sungurlu said, "We give the security to the buyer and the money to the seller. We ensure that these operations work without any disruption by using the collateral we receive from brokerage houses and banks, as we have a secure collateralization and risk management system."

Sungurlu noted that the financial infrastructure is constantly being updated and must be equipped with new technologies due to the increasing number of investors and transaction volumes on the stock exchange, reminding that they transitioned to the 3.0 model, the new version of the stock exchange infrastructure, last year.

Pointing out that they are conducting the accounting integration process together with the General Directorate of Public Accounts, Sungurlu said, "The system for all public tenders has now been moved to an electronic environment. Takasbank operates this system. Furthermore, the private pension system is also operated through Takasbank. We have developed another system that allows investors to obtain loans by showing their private pension funds as collateral. 2023 was a year full of similar projects."

"We will implement a digital gold buying, selling, and transfer system in partnership with the Mint"

Avşar Sungurlu stated that technological developments related to blockchain are being closely followed all over the world, adding that Takasbank has also been working on a blockchain infrastructure for years and that they have developed a gold transfer system platform called "BiGA" as a result of these efforts.

Announcing that they will implement a joint project with the Mint next year, Sungurlu concluded his words as follows:

"We will implement a digital gold buying, selling, and transfer system based on digital blockchain infrastructure in partnership with the Mint. There are also phase three studies for public procurement. Here, we plan to grow that system, namely the surety bonds, and include all assets of the entire collateral management on the public side. As Takasbank, we think about how we can use our infrastructure for the public good and what we can do. Vehicle swapping is already one of the important products of this mindset."

Transfers take place in minutes

According to the information provided, with the "Taşıt Takas" system developed by Takasbank, which protects the parties in vehicle buying and selling, the vehicle ownership right and the cash equivalent of the sales price change hands simultaneously. When the seller and buyer reach an agreement for a vehicle sale transaction, the seller initiates the process in the Taşıt Takas System.

After the seller enters all relevant sales information and creates a secure digital record, the system provides a "Reference Number" approved by the notary and specific to the individual, and this number is sent to both the buyer and the seller. The buyer uses this "Reference Number" to access the Taşıt Takas system and confirm the purchase transaction.

Takasbank checks whether the bank account numbers entered by the parties belong to the license holders, and thanks to this check, the entire transaction is made secure. The buyer can only send the sales price to the IBAN belonging to Takasbank from a bank account registered in their own name, which they entered into the system during registration, by writing the reference number in the EFT description. Otherwise, the sent amount is automatically refunded by Takasbank. The sales price arriving at the account held by Takasbank is blocked as soon as the transaction begins at the notary.

Buyer and seller are informed

Before the transaction is carried out at the notary, the parties are informed via text message (SMS) and e-mail that it is important to ensure the sales price is blocked using the "My Ongoing Transactions" button on www.tasittakas.com.tr, www.turkiye.gov.tr, and mobile applications, and to carry out the transfer procedures at the notary only after this verification.

As long as the registration process is not completed at the notary, the parties can cancel the transaction. The sales price is automatically transferred to the seller's account within minutes after the registration process is completed by the notary. Thus, problems such as the money turning out to be counterfeit, being stolen, or the seller changing their mind "after receiving the money" are eliminated.

Even if the transfer process is carried out by a proxy in the application, the sales price is only sent to a bank account in the name of the seller.

While the Taşıt Takas service ensures the simultaneous exchange of vehicle ownership rights and the cash sales price, it offers the parties the opportunity to transact securely and eliminates the risk of carrying cash and the risk of counterfeit money.