BAKU, Azerbaijan, August 11. Rysgal JSCB became Turkmenistan's largest mobile banking provider in January-June 2026.
This was calculated by Trend based on data published by the Central Bank of Turkmenistan.
Rysgal JSCB accounted for 54.8% of the country's total mobile banking transaction volume. Its market share nearly tripled from 19% a year earlier, allowing the bank to overtake the previous leaders, Turkmenistan State Commercial Bank (SCBT) and Dayhanbank SCBT.
In parallel, Turkmenistan State Commercial Bank (SCBT) and Dayhanbank SCBT ranked second and third with market shares of 23.1% and 10%, respectively.
The State Bank for Foreign Economic Affairs followed with a 7.4% share of the total mobile banking transaction volume.
Meanwhile, according to Trend’s calculations, Senagat JSCB, Turkmenbashi JSCB, Halkbank, and Turkmen-Turkish JSCB together accounted for less than 5% of the market.
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.
