Monday, 25 September 2023 06:50 GMT

MasterCard intends to work with Turkmenistan to improve level of electronic payments

(MENAFN- Trend News Agency ) BAKU, Azerbaijan, May 9

By Jeila Aliyeva - Trend:

MasterCard company keens to work with the banks and authorities of Turkmenistan to increase the level of the electronic payments, MasterCard told .

"We are excited that Turkmenistan is moving towards cashless and as a company, we are keen to support all these endeavors," said the message.

"Overall, we believe there is a potential for further development of the Turkmenistan cashless payments market," noted MasterCard.

As such, MasterCard will continue working with Turkmenistan banks to contribute to the development of payment services and other digital banking products.

"Last year we have seen more banks started MasterCard card issuance in the country. As a result, there was a noticeable growth in the number of MasterCard cards issued by Turkmenistan banks."

MasterCard is proud to bring its technological solutions to Turkmenistan and cooperate closely with the country.

The sustainability of the markets is directly linked to the technologies providing the transparency of the financials.

"We at MasterCard are strongly committed to making those technologies available globally," concluded the message.

The number of subscribers connected to the ''Internet Banking service'' in Turkmenistan amounted to 634,000, and the number of customers using mobile banking amounted to 28,400 in Turkmenistan for February 1, 2021.

The total number of bank cards amounted to more than 4.4 million, and terminals – 39,200 in Turkmenistan, as of January 2021.

Currently, the banking system of Turkmenistan provides citizens with such types of cards as "Altyn Asyr", "Millikart", "Maşgala", "Goýum bank karty", "Overdraft karty", as well as international bank cards "VISA" и "MasterCard".

The volume of non-cash transactions made through ATMs, terminals, internet banking, mobile banking, and e-commerce systems reached 8.8 billion Turkmen manat ($2.5 billion) in 2020, which is 2.65 times higher than in the same period of 2019.

Also, the share of non-cash payments in the total volume of non-cash transactions carried out using bank cards for 2020 amounted to 34.4 percent, an increase of 2.16 times from 2019 (16 percent).


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