BISHKEK, Kyrgyzstan, July 2. The volume of money transfers between electronic wallets in Kyrgyzstan amounted to 7.7 billion soms ($89.171 million) from January through March 2024, Trend reports.
According to the National Bank of Kyrgyzstan, this figure represents a 36.2 percent increase compared to the same period in 2023. The number of transactions doubled, reaching 4.2 million operations.
As of the end of the first quarter of 2024, electronic money issuers included six commercial banks, with ten local electronic money settlement systems operating in Kyrgyzstan.
Compared to the previous period, there was an increase in electronic money indicators due to their simplicity and convenience.
Overall, the number of electronic wallets totaled 6.8 million, marking a 20.2 percent increase compared to the same period last year. Of these, 2.7 million wallets were identified, comprising 40.6 percent of the total number of all electronic wallets.
An electronic wallet is a place to store virtual currency that is made up of software or other software-technical devices that keep track of the amount of virtual currency and who owns it.