The President of the Motor Vehicle Dealers Federation (MASFED), Aydın Erkoç, emphasized that the mandatory Secure Payment System, which will be in effect for everyone starting tomorrow, is a beneficial application for individuals. He stated, “The application will particularly prevent fraud on the internet and deposit theft.” Developed in collaboration with the Ministry of Commerce and the Turkish Notary Association to make the second-hand vehicle trade safer, the Secure Payment System becomes mandatory for everyone tomorrow, including buyers. The system aims to eliminate risks such as carrying cash, counterfeit money, and non-payment of the sales price while anticipating the establishment of a secure environment in the second-hand vehicle market. In this system, the seller will initiate the secure payment process first, then the buyer will deposit the money with the intermediary organization using a reference number before going to the notary. Once the sale is approved, the money held in the secure account will instantly transfer to the seller’s account. “APPLICATION IS A SECURED GUARANTEED TRANSACTION BETWEEN INDIVIDUALS” President Erkoç of MASFED stated that the system is a beneficial application not only for motor vehicle dealers but also for individuals. “The application will especially prevent fraud on the internet and deposit theft. The system was implemented because sellers do not deliver the sale and buyers do not pay the price. Due to corruption on internet sites, we can call it a secured guaranteed transaction between individuals.” Erkoç emphasized that there are no issues related to individuals in the system and said, “We have problems with motor vehicle dealers, our tradesmen, and merchants. There are difficulties in accessing credit. For example, if you are considering buying a 1 million lira vehicle and you have a 500 thousand lira vehicle that you want to exchange, you give this vehicle as a trade and pay 200-300 thousand lira in cash. Then you say, ‘Withdraw the rest from the credit card or make a promissory note’. How will you show this as an obligation to the bank? We fall into contradiction here. On the other hand, mistrust is directed towards licensed motor vehicle dealers who have fulfilled all obligations, passed the professional qualification exam, and obtained an authorization license.” “THE STATE’S LOSS IS AT LEAST 25 BILLION LIRA ANNUALLY” Erkoç, who provided information that there are 70 thousand motor vehicle dealers in Turkey, requested that the Secure Payment System be optional for authorized motor vehicle dealers and mandatory for individuals. Emphasizing that the industry does not want consumers and tradesmen to suffer or the state to experience tax loss, Erkoç noted, “At least 1 in every 5 people in Turkey buys and sells vehicles. They do this as a second or third profession. Inconsistencies will be prevented with these regulations. Approximately 9 million vehicles change hands annually in Turkey. Of these 9 million vehicles, 5 million are bought and sold by unregistered individuals. The state’s loss from this is at least 25 billion lira annually.”