Payments/TM
Turkmenistan
ISO TM · 3 schemes
Summary
- Halkbank QR launched 2023
- 1,000x growth in non-cash payments (2013-2024)
- 5.94 million bank cards in circulation
- Altyn Asyr national payment system
- $5.90 billion digital payments projected (2024)
Banking landscape
Central Bank
- Name: Central Bank of Turkmenistan
- Website: https://www.cbt.tm/
- Role: Monetary policy, banking oversight
Major Banks (2024)
| Rank | Bank Name | Type | Digital Platform |
|---|---|---|---|
| 1 | Halkbank | State | Halkbank-Terminal |
| 2 | Rysgal Bank | Private | Rysgal E-wallet |
| 3 | Senagat Bank | State | Senagat App |
| 4 | Dayhanbank | State | Dayhan Mobile |
| 5 | Turkmenistan Bank | State | TB Mobile |
Market Structure
- Halkbank: QR code pioneer
- 5.94 million cards: In circulation
- 2,138 ATMs: Nationwide
- State-dominated: Banking sector
Payment infrastructure
National Payment Systems
| System | Operator | Type | Status |
|---|---|---|---|
| Altyn Asyr | National | Payment system | Active |
| Halkbank QR | Halkbank | QR/NFC | Active (2023) |
| Halkbank-Terminal | Halkbank | mPOS | Active |
Digital Payment Statistics (2024)
- 18.3 billion TMT: Cashless transactions (Jan-Nov)
- 17% growth: Year-over-year
- 210.6 million TMT: Via Halkbank-Terminal
- 7,000+ clients: Mobile app users
Historical Growth
- 2013: 4.2 million TMT cashless
- 2023: 17.3 billion TMT
- Growth: ~4,000x in decade
QR code standards
Halkbank QR
| Attribute | Value |
|---|---|
| Operator | Halkbank |
| Launch | 2023 |
| App | Digital Card |
| Features | NFC + QR |
Halkbank QR Features
- Contactless NFC payments
- QR code payments
- Mobile phone based
- Retail/service networks
Halkbank-Terminal
- Mobile app as POS terminal
- Replaces traditional terminals
- 210.6 million TMT volume
- 3.8% annual growth
QR Testing
- Rysgal Bank QR testing
- Retail network trials
- Service network integration
- Maestro contactless cards
Mobile payment apps
| App | Provider | QR | Features |
|---|---|---|---|
| Digital Card | Halkbank | Yes | NFC + QR |
| Halkbank-Terminal | Halkbank | Yes | mPOS |
| Rysgal E-wallet | Rysgal | Developing | Banking |
Digital Card App
- Halkbank developed
- NFC contactless payments
- QR code payments
- Mobile phone based
Rysgal Bank Services
- Internet banking
- E-wallet introduction
- QR code testing
- Digital transformation
Schemes
| Scheme | Type | Symbology | Adoption | Technical standard |
|---|---|---|---|---|
| Halkbank QR | QR + NFC | Mobile | Active | halkbank-qr |
| Altyn Asyr | National | System | Universal | — |
| Halkbank-Terminal | mPOS | App | 7K+ clients | — |
Sources
- Turkmenportal - Contactless Payment Service
- Wikipedia - Altyn Asyr Payment System
- Turkmenistan Embassy - Cashless Digitization
- NCA - Digital Banking Revolutionizes Payments
- Turkmenportal - 4 Million Bank Cards
- Turkmenistan.gov - Rysgal Bank E-wallet
- Statista - Digital Payments Turkmenistan
- Kuveyt Turk - QR Code Transactions
- Balkan Shipyard - Cashless Transition
- Relevant Software - QR Payments 2024
Full country report
Schemes
Standards
Primary · 1
Mentioned · 1