BAKU, Azerbaijan, October 19. The volume of
non-cash bank card transactions through internet banking in
Turkmenistan reached 6.8 million manat ($1.9 million) in
January-August 2026, up 61.9% year-on-year.


The figure was calculated by Trend based on data published by the Central Bank of
Turkmenistan.


According to the calculations, the State Bank for Foreign
Economic Affairs recorded the highest growth, with transaction
volume increasing by 1,118.8%, or more than 12 times compared with
the same period of 2025.


Turkmen-Turkish JSCB and Halkbank followed, recording increases
of 645.5% and 382.4%, respectively.


Dayhanbank SCBT's transaction volume doubled, while Turkmenbashi
JSCB and Turkmenistan State Commercial Bank (SCBT) recorded
increases of 55.6% and 37%, respectively.







Meanwhile, Senagat JSCB recorded a 29.9% decline, while Rysgal
JSCB reported no internet banking transactions during the reporting
period, according to Trend 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.