BAKU, Azerbaijan, August 18. Halkbank Terminal
transaction volume in Turkmenistan increased by 42.2% in
January-May 2026.
This was calculated by Trend based on data published by the Central Bank of
Turkmenistan.
Calculations show that Dayhanbank SCBT recorded the strongest
growth in transaction volume, at 74.7%. Turkmenistan State
Commercial Bank (SCBT) also recorded an increase of 3.3%.
Meanwhile, Halkbank and Turkmenbashi JSCB recorded declines of
32% and 38.3%, respectively, Trend's calculations show.
Overall, the volume of transactions processed through the
Halkbank Terminal system reached 129.5 million manat ($37 million)
in January-May 2026, compared with 91.1 million manat ($26 million)
in the same period last year, Trend calculations based on Central Bank data
reveal.
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.
