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Mobile Banking System Launched In Turkmenistan

Friday, May 5, 2017 - 15:43

Turkmenistan has launched a system of mobile banking. Currently, it's being actively tested with the use of the credit and debit cards of the national payment system “Altyn Asyr.” Just like Internet banking, this system allows to pay for various services, including Internet and IPTV, to replenish the balance of a cell or home phone, to pay off a loan, and to transfer money from one card to another. Mobile banking is also convenient for searching for branches of banks and ATMs. The special application used online displays the closest branches of banks and ATMs, as well as the distance to them.


In order to use mobile banking in the territory of Turkmenistan, it will be necessary to download a special application that will soon be available on all sites of the banks of the country. It will be available on iOS and Android.


The difference between mobile banking and Internet banking is that there is an application to be installed on a mobile phone. In addition, mobile banking is more convenient to use. On the other hand, to use Internet banking services, you need to install a browser.


In general, the functions of mobile banking are similar to the functions of Internet banking.


In early April 2017, it was reported that the Internet banking service intended for the national payment system “Altyn Asyr” had started functioning in relation to all banks of Turkmenistan. As of today, it offers the services such as replenishing the balance of a home or mobile phone, and repaying loans. As for other services, they are currently under development and will be introduced in the near future.


Those who wish to obtain access to Internet banking should contact their bank and file the corresponding application.

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