New Digital Services Are Being Introduced into Turkmenistan’s Banking System

Today Turkmenistan has created broad opportunities for the provision of modern digital services by the country's credit institutions. These include «Internet Bank», «Mobil Bank», «Elektron Söwda (Electronic Commerce)», «Halkbank Terminal», «Galtaşyksyz Töleg (Contactless Payment)», «VISA Virtual», «Menzilara Bank (Remote Bank)», «Sanly Kart (Digital Card)», «Sanly Töleg (Digital Payment)», «Sanly Karz (Digital Loan)». They can be used to perform various operations - applying for loans, viewing bank accounts online, receiving electronic statements and preparing electronic payment orders, opening new bank cards online, transferring funds from one card to another, making payments for goods/services.

A significant practical step in this direction was the introduction of the international payment systems «VISA» and «MasterCard» in our country. This, in turn, allowed Turkmenistan to integrate into the global banking services industry, raise the business image of leading domestic banks, enter a wide market, attract a larger number of clients, and effectively use the gigantic infrastructure for making payments on a global scale.

In order to meet the needs of our citizens, expand the range of Internet services offered, ensure the security of bank cards and reduce the risks associated with making payments, it is worth noting the innovation introduced by the State Bank for Foreign Economic Activity - the «VISA Virtual» bank card.

In addition, the State Commercial Banks «Daýhanbank» and «Türkmenistan», as well as the Joint-Stock Commercial Bank «Halkbank» currently offer digital services designed for online payment of tuition and accommodation in student dormitories abroad. Also, with the help of this electronic payment system, you can pay for examination and treatment of individuals outside the country, independently top up international bank cards «VISA» and «MasterCard» via the Internet.

In this context, it is also worth noting the importance of the service «Onlaýn halkara töleg (Online international payment)» of the State Commercial Bank «Türkmenistan». As of the 1st of December of this year, about 1.4 thousand clients have connected to it to top up their international bank cards «VISA» and «MasterCard».

Progress in the evolution of mobile communication devices requires an increase in the range of banking services, including for the purpose of improving contactless payment technologies. Therefore, the country's credit institutions are developing corresponding applications for smartphones that allow for non-cash payments, in particular contactless ones.

Source: Turkmenistan State News Agency