BAKU, Azerbaijan, September 11. The volume of non-cash card transactions via e-commerce in Turkmenistan increased by 47.5% in January-July 2026.
According to Trend's calculations based on official data published by the Central Bank, the volume reached 2.2 billion manat ($624.5 million), compared with 1.5 billion manat ($423.3 million) recorded in the same period last year.
Moreover, Trend's calculations show that Turkmenistan State Commercial Bank (SCBT) recorded the strongest growth, with the volume of such transactions increasing by 458.6%.
Turkmenbashi JSCB followed with an increase of 159.6%, while Dayhanbank SCBT recorded growth of 90.2%.
Halkbank and the State Bank for Foreign Economic Affairs posted increases of 45.9% and 45.8%, respectively.
Senagat JSCB and Rysgal JSCB recorded the smallest increases, at 35% and 29.7%, respectively.
Meanwhile, Turkmen-Turkish JSCB was the only bank to record a decline, with the volume of e-commerce transactions falling by 36.7%.
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.
