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Transactions with MasterCard, VISA cards to be carried out in soms in Kyrgyzstan

Implementation of project on in-country monetary transactions using MasterCard and VISA cards in soms began in Kyrgyzstan. The National Bank reported.

According to the bank, relevant agreements have been signed with the international systems. Work with banks starts. Implementation of the project will allow cardholders to make cashless payments at retail and services outlets through a POS terminal of any bank without fees and conversions, and speed up the final settlements.

«Integration of national card systems of the states of the Eurasian Economic Union is also underway. Since the beginning of 2019, at least 18 commercial banks have ensured acceptance of the national Mir cards in their infrastructure. This is the first stage of integration, as a result of which the national Elcard and Mir cards can be served in each other’s infrastructure. The next step is the launch of money transfers between Elcard and Mir cards,» the statement says.