Ashgabat, Turkmenistan, June 8
By Huseyn Hasanov– Trend:
The Central Bank of Turkmenistan, together with the local Joint-Stock Commercial Bank (JSCB) Rysgal, is working to introduce a system of QR code payments in the country, Trend reports with reference to the Neutral Turkmenistan newspaper.
This direction involves using various methods and mechanisms for conducting cashless payments via QR codes.
The introduction of this technology will improve the quality of public services, reduce the costs of small business representatives and banks aimed at purchasing and servicing POS terminals, and will also give powerful impetus to the activation of processes related to the digitization of the Turkmen economy, the report said.
Platforms for the financial market of Turkmenistan will ensure carrying out online transfers and payments in real time according to the 365/24/7 scheme. It is planned that the platform will allow settlements with individuals in the places of trade in goods, works and services.
The platform will also allow making transfers between individuals, to legal entities for goods and services (including payment for goods and services, redemption of bills, state and municipal payments), as well as other types of payments.
The system of QR codes is becoming increasingly popular in the world due to the active development of mobile technologies.
A QR code is a 2D bar code that can contain various kinds of information and is a Quick Response Code, which reflects the ability of devices and software to quickly recognize and convert the data in the QR code.