BAKU, Azerbaijan, October 16. Rysgal JSCB
accounted for 46.1% of non-cash bank card transactions through
mobile banking in Turkmenistan in January-August 2026, leading all
banks in the segment.
The figures were calculated by Trend based on data
published by the Central Bank of Turkmenistan.
According to the calculations, Rysgal's share more than tripled
from 15.2% in the same period of 2025. It was the only bank to
increase its share of mobile banking transactions, while all other
banks recorded declines.
Turkmenistan State Commercial Bank (SCBT) ranked second,
accounting for 26.8% of the total volume.
At the same time, Dayhanbank SCBT, the State Bank for Foreign
Economic Affairs and Senagat JSCB held shares of 11.9%, 9.9% and
3.8%, respectively.
Turkmenbashi JSCB accounted for 1.5%, while Turkmen-Turkish JSCB
and Halkbank each held 0.1%, according to Trend’s
calculations.
For reference, the Central Bank of Turkmenistan launched
cashless payments in 2001 with the introduction of the domestic
Altyn Asyr card scheme. While the initial infrastructure was
developed in the 2000s, broader adoption gained momentum in the
mid-2010s as part 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.
