Halkbank accounts for 86.6% of Turkmenistan's e-commerce payments

Photo: Unsplash /Jakub Żerdzicki

BAKU, Azerbaijan, October 23. Halkbank accounted for 86.6% of e-commerce payment volume in Turkmenistan in January-August 2026.

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

According to the calculations based on the official data, Dayhanbank SCBT, Senagat JSCB, and Rysgal JSCB accounted for 6.3%, 3.7%, and 2.3% of total e-commerce payment volume, respectively.

Meanwhile, the State Bank for Foreign Economic Affairs, Turkmenistan State Commercial Bank (SCBT), Turkmenbashi JSCB, and Turkmen-Turkish JSCB jointly accounted for just over 1%, 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 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.