BAKU, Azerbaijan, August 18. Halkbank Terminal transaction volume in Turkmenistan increased by 42.2% in January-May 2026.
This was calculated by Trend based on data published by the Central Bank of Turkmenistan.
Calculations show that Dayhanbank SCBT recorded the strongest growth in transaction volume, at 74.7%. Turkmenistan State Commercial Bank (SCBT) also recorded an increase of 3.3%.
Meanwhile, Halkbank and Turkmenbashi JSCB recorded declines of 32% and 38.3%, respectively, Trend's calculations show.
Overall, the volume of transactions processed through the Halkbank Terminal system reached 129.5 million manat ($37 million) in January-May 2026, compared with 91.1 million manat ($26 million) in the same period last year, Trend calculations based on Central Bank data reveal.
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.
