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Kyrgyzstan introduces new rules for mobile wallets

After lengthy negotiations, the National Bank of Kyrgyzstan and mobile network operators agreed on the joint development of mobile services. The Chairman of the National Bank of the Kyrgyz Republic Tolkunbek Abdygulov announced today at a press conference.

According to him, a cooperation agreement was signed to support the development of cashless payments and to ensure integration of mobile applications with electronic public services.

The document stipulates that users of mobile applications must be authenticated by October 1, 2020. Unidentified wallets will stop working after the date.

 «We give mobile operators a year to prepare subscribers. In addition, we agreed to increase transactions on unidentified wallets to 30,000 soms. The negotiations continued for a long time; we had been exchanging mutual claims for more than a year. But in the end, we came to a common opinion. A decision, which is agreed with mobile operators, has been made,» said Tolkunbek Abdygulov.

He noted that unidentified users of mobile applications will be able to carry out only low-risk operations:

  • Payment of utilities bills, taxes, fees, state duties, fines and other payments to the budget;
  • Replenishment of bank accounts;
  • Payment of household services / goods / work / services of residents with a current account in commercial banks of Kyrgyzstan.

The wallet replenishment system will remain the same. The ban on transfer of funds from a mobile phone to an electronic wallet is still in force.