BAKU, Azerbaijan, September 11. The volume of
non-cash card transactions via e-commerce in Turkmenistan increased
by 47.5% in January-July 2026.


According to Trend's calculations based on official data published
by the Central Bank, the volume reached 2.2 billion manat ($624.5
million), compared with 1.5 billion manat ($423.3 million) recorded
in the same period last year.


Moreover, Trend's
calculations show that Turkmenistan State Commercial Bank (SCBT)
recorded the strongest growth, with the volume of such transactions
increasing by 458.6%.


Turkmenbashi JSCB followed with an increase of 159.6%, while
Dayhanbank SCBT recorded growth of 90.2%.


Halkbank and the State Bank for Foreign Economic Affairs posted
increases of 45.9% and 45.8%, respectively.


Senagat JSCB and Rysgal JSCB recorded the smallest increases, at
35% and 29.7%, respectively.







Meanwhile, Turkmen-Turkish JSCB was the only bank to record a
decline, with the volume of e-commerce transactions falling by
36.7%.


For reference, the Central Bank of Turkmenistan launched
cashless payments in 2001 with the introduction of the domestic
"Altyn Asyr" card scheme. While initial infrastructure was
developed in the 2000s, broader adoption gained momentum in the
mid-2010s as a result of government efforts to digitalize the
economy.


In August 2020, the government announced the launch of the
Halkbank Terminal mobile application, developed by JSCB Halkbank to
allow merchants to accept cashless payments directly through
NFC-enabled smartphones, replacing traditional POS terminals. The
initiative was presented as a step toward expanding cashless
payments and introducing contactless payment technologies across
the country.


Alongside payment terminals, Turkmen banks have expanded digital
banking services, including Internet Banking, Mobile Banking,
e-commerce payment platforms, and specialized applications such as
Senagat Töleg, while continuing to develop the national Altyn Asyr
bank card payment system. These services enable customers to pay
for utilities, telecommunications, transport, taxes, and other
public services electronically.