BAKU, Azerbaijan, August 5. Central Asia is accelerating its shift toward digital payments, turning financial technology into a new backbone of commerce, business and everyday transactions.
Over the past several years, countries across the region have moved beyond standalone online banking services toward more integrated digital financial ecosystems, where mobile apps, QR-code payments, artificial intelligence, digital identity and cross-border solutions are becoming essential components of the financial system.
While the pace of development varies from country to country, the overall direction is clear: digital payments are emerging as a key pillar of the region's economic modernization. Kazakhstan is scaling up its digital infrastructure, Uzbekistan is building ecosystem-driven financial services, Kyrgyzstan has become one of the region's fastest adopters of QR payments, Tajikistan is connecting to global payment platforms, and Turkmenistan continues to expand the foundations of its digital banking ecosystem.
Kazakhstan shifts from card payments to digital infrastructure
Kazakhstan remains one of Central Asia's most advanced digital payments markets. According to the National Bank of Kazakhstan, 83.6 million payment cards were in circulation as of July 1, 2026. In June alone, transactions made with bank cards totaled 19.8 trillion tenge (approximately $42.09 billion), of which 17.4 trillion tenge ($36.9 billion) were cashless payments.
The number of cashless transactions rose by 7.2% year-on-year to 1.3 billion. Internet and mobile banking applications remain the dominant payment channel, accounting for 79.5% of all cashless transactions and 90.2% of their total value.
The next phase of Kazakhstan's digital payments strategy is the rollout of a nationwide QR payment infrastructure. In July 2026, the country launched a unified QR payment system, allowing customers of different banks to use a single payment standard.
Since its launch, the platform has processed around one million transactions. The National Bank says the system is designed not only to support payments between consumers and businesses but also to facilitate cross-border transactions and a broader range of digital financial services in the future.
Deemah AlYahya, Secretary-General of the Digital Cooperation Organization (DCO), told Trend in an exclusive interview that Kazakhstan is steadily strengthening its position in the global digital transformation and innovation landscape, emerging as one of Central Asia’s leading digital economies. "One of its strongest areas is Digital Finance, where the country scored 75.4, including an impressive 85.7 in access to digital banking and finance. This highlights Kazakhstan’s rapid adoption of digital financial services and its efforts to expand financial inclusion through technology. These achievements indicate that Kazakhstan has established an enabling regulatory environment capable of supporting innovation, digital trade, and investment", the secretary-general said.
According to AlYahya, Kazakhstan is also reinforcing its role as a digital bridge connecting Asia, the Middle East and Europe.
Uzbekistan's banks evolve into digital ecosystems
Uzbekistan is pursuing a model in which payments are no longer a standalone banking service but part of a broader digital ecosystem that combines financial services, commerce, lending and business solutions.
One of the country's leading players is TBC Uzbekistan. The bank told Trend that its monthly active user base has reached 5.8 million, while the number of business customers has grown to 67,000. The bank is also expanding rapidly in the small and medium-sized enterprise segment. By the end of the first quarter of 2026, lending to micro, small and medium-sized businesses (MSMEs), including self-employed entrepreneurs, accounted for 18% of its loan portfolio, with more than 185,000 loans issued.
Artificial intelligence has become another major focus. TBC Uzbekistan is developing Lola, Central Asia's first AI-powered banking assistant. "Our proprietary Uzbek- and Russian-language LLMs allow Lola to handle routine customer interactions with high accuracy, guiding users through our financial products and everyday requests. When a human touch is needed, the escalation process to our support team is completely seamless. With Lola's broader capabilities, we are taking this to the next level: by the end of 2026, Lola is projected to independently resolve up to 30% of all inquiries," the bank told Trend.
Another indicator of Uzbekistan's digital transformation is the rapid growth of its domestic payment platforms. In the first half of 2026, UzCard posted a net profit of 1.1 trillion soums (approximately $92.1 million), up 84.2% from the same period a year earlier.
At the same time, the Uzum ecosystem continues to expand by integrating payments, e-commerce and financial services into a single platform. More than six million users have already chosen Uzum Bank cards. "We are building an ecosystem where financial and everyday services come together on a single platform. This enables users to shop, pay for services, access installment financing, transfer money and use a wide range of other solutions in just a few clicks," said Uzum CEO and founder Jasur Dzhumaev.
Kyrgyzstan sees QR payments go mainstream
Kyrgyzstan is posting one of the fastest rates of digital payment adoption in Central Asia.
The key driver has been the national ELQR system. In 2025, the value of transactions processed through the platform reached 908.6 billion soms ($10.3 billion), roughly ten times higher than a year earlier. The number of transactions climbed to 525.1 million, an eightfold increase compared with 2024. Meanwhile, the number of QR codes deployed across retail outlets, government institutions and other organizations nearly doubled year-on-year to 114,100.
The electronic wallet market is expanding alongside the QR ecosystem. By the beginning of 2026, more than 6.6 million e-wallets had been registered in the country, while the number of unique users exceeded 3.4 million.
Banks are also broadening their digital offerings. As of the end of 2025, nearly 9.9 million payment cards were in circulation in Kyrgyzstan, and the annual number of card transactions surpassed 253 million.
In 2026, the country took another step toward global payment integration. Apple Pay was officially launched in Kyrgyzstan, while users of the Elkart Mobile application gained access to payments in more than 60 countries through the Alipay+ network.
In addition, Bakai Bank became the first bank in Kyrgyzstan to introduce Visa Direct to Account, enabling users to receive international money transfers directly into their bank accounts.
Tajikistan connects to the global payments ecosystem
Tajikistan took a significant step forward in digital payments in 2026 with the launch of Apple Pay. The service was officially introduced on July 28 at a ceremony attended by representatives of the Agency for Innovation and Digital Technologies under the President of Tajikistan, the National Bank of Tajikistan, Apple, the country's banking sector and international payment systems.
In the initial phase, Apple Pay became available to customers of Alif Bank and Humo Bank. The country's first official Apple Pay transaction was completed at a Yovar supermarket.
Gulanor Atobek, Chairwoman of Alif Bank, told Trend that introducing international payment solutions is about more than technological advancement. "The launch of Apple Pay in Tajikistan marks another stage in the development of the country’s digital payment infrastructure, making cashless transactions convenient," she said.
According to Gulanor, the next stage of digital payment adoption will depend on the right balance of technological innovation, security, consumer trust and financial literacy.
Turkmenistan builds the foundations of digital payments
Turkmenistan is pursuing a gradual approach to digital transformation, with a focus on expanding banking infrastructure and improving access to electronic financial services. According to Trend's calculations based on data from the Central Bank of Turkmenistan, the value of internet banking transactions increased by 106.9% year-on-year in January–May 2026, reaching 4.5 million manat (about $1.2 million). The State Commercial Bank of Turkmenistan accounted for 50.8% of all internet banking transactions during the period.
Cashless payments totaled 7.1 billion manat ($2.03 billion) in the first five months of 2026. Dayhanbank accounted for 32% of the transaction volume processed through POS terminals.
For 2025 as a whole, the country's total cashless payment volume exceeded 23.4 billion manat ($6.7 billion). Expanding digital financial channels has also become one of the priorities under Turkmenistan's Digital Economy Development Program for 2026–2028.
Denis Yudin, Head of Business Development at Colvir Software Solutions, told Trend that remote banking and mobile channels are expected to be among the most promising areas of financial sector development in Turkmenistan. "These solutions are no longer viewed as optional services but have become a core element of the modern banking model, enabling customers to access services anytime and from any device," he said.
According to Yudin, digital channels are increasingly serving as a key driver for expanding customer bases, generating fee income, and supporting overall business growth in the banking sector. "The important area is the development of payment infrastructure. Particularly promising here are instant payment systems, QR payments, international settlements, and ISO 20022 standards, as well as the broader modernisation of payment services and greater transaction transparency," he added.
The next phase: regional digital integration
As digital payment systems mature, Central Asia is gradually moving beyond national markets toward greater regional integration. Otabek Nasirov, Chairman of the Central Asia Fintech Association, told Trend that there is a huge potential for mutual fintech investments between Central Asia and the Caucasus, and this potential hasn't yet been fully untapped.
"There are many common priorities that unite our regions. This includes the development of digital payments, fintech innovations, artificial intelligence, cybersecurity, digital identity, financial inclusion, and cross-border digital trade. We believe that the close cooperation established between the sectoral associations will accelerate the exchange of knowledge and experience, promote the implementation of best practices and digital solutions, as well as open up new opportunities for business entities operating in both markets," he explained.
According to Nasirov, deeper cooperation will help accelerate the adoption of new technologies, support the growth of startups and foster the development of interoperable financial systems. "The key question is how effectively we can work together to transform these opportunities into sustainable economic growth and stronger financial ecosystems," he clarified.
That shift may ultimately prove to be the most significant outcome of Central Asia's digital payments transformation. The region is no longer simply expanding individual banking services; it is steadily building an interconnected digital financial ecosystem.
In the years ahead, payment technologies are expected to play an increasingly important role in the growth of e-commerce, small businesses, cross-border transactions and regional economic integration. Increasingly, digital payments are serving not only as a convenient way for consumers to pay, but also as a catalyst for stronger economic connectivity across Central Asia.
