BAKU, Azerbaijan, August 13. Halkbank accounted
for 86.2% of e-commerce payment transaction volume in Turkmenistan
in January-May 2026.
This was calculated by Trend based on data published by the Central Bank of
Turkmenistan.
The calculations show that Dayhanbank SCBT, Senagat JSCB, and
Rysgal JSCB accounted for 6.5%, 3.8%, and 2.3%, respectively.
The State Bank for Foreign Economic Affairs, Turkmenistan State
Commercial Bank (SCBT), Turkmenbashi JSCB, and Turkmen-Turkish JSCB
jointly accounted for 1.2% of the total volume, Trend reports.
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.
