Kyrgyzstan's Interbank Processing Center And Alipay+ Ink Mou On Cross-Border QR Payments

2025-09-24 03:06:18

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, September 24. Kyrgyzstan's Interbank Processing Center (IPC), operator of the national payment system Elkart, and global cross-border mobile payment platform Alipay+ have signed a Memorandum of Understanding (MoU) in Shanghai, China, Trend reports via IPC.

The agreement aligns with the priorities set by the National Bank of Kyrgyzstan to advance digital payments, cross-border settlements, and international cooperation.

The parties confirmed their readiness to launch a large-scale project enabling mutual acceptance of QR payments. The initiative will establish a digital bridge between Kyrgyzstan and China, as well as other countries where Alipay+ operates. Currently, QR-code payment options for foreign tourists in Kyrgyzstan are limited, but the project will pave the way for their full integration. Through the ELQR network (Electronic QR Payment System) and Alipay+ partner apps, users will be able to shop and pay for services as conveniently as in their home countries.

The MoU also provides for the joint development of payment and acquiring infrastructure and the introduction of cross-border QR payment acceptance via ELQR and Alipay+ partner apps. This will create new opportunities for businesses and consumers in both countries to conduct convenient and secure transactions.

Future cooperation will include joint projects and pilot initiatives, with a focus on reliability, regulatory compliance, and data protection.

“This agreement builds a digital bridge between Kyrgyzstan and China and expands our integration into the international financial ecosystem. It will allow tourists to pay through familiar Alipay+ apps, while local entrepreneurs gain access to millions of users worldwide,” said Altymysh Turatbekov, Chairman of IPC.

Alipay+, developed by China's Ant International, is a global digital payment platform that unites leading e-wallets and payment apps worldwide. It enables users to make purchases abroad through familiar applications and allows businesses to accept payments from millions of customers. Alipay+ is currently present in 57 countries and regions, connecting tens of millions of merchants and numerous payment partners.

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