BAKU, Azerbaijan, October 17
By Jeila Aliyeva - Trend:
A new Owerdraft Karty bank card has been introduced in Turkmenistan, Trend reports with reference to the Turkmenportal information portal.
The new card is introduced to increase the financial capabilities of citizens when buying everyday goods, based on their requests, in order to speed up the processing of short-term loans in the amount of 40 percent to three times the salary.
As reported, Turkmenistan has been working to improve its non-cash payment system since the beginning of the year.
In particular, the Overdraft protection program was launched, which allows paying for purchases via the card even if it ran out of funds. In addition, a Cashback system was introduced, which returns a certain percentage of the purchase price to the account every month.
The number of new active bank cards in Turkmenistan increased by 8 percent in 1H2020, compared to the same period of last year.
More than 3.9 million active bank cards were registered in the country in January 2020, and their number increased to 4.3 million as of July 1, 2020.
The introduction of digital technologies into the banking sector of the country will expand the range of banking services and the capabilities of the national payment system provided to customers, as well as increase the competitiveness of credit institutions, said the report.
In general, the country's financial sector is constantly expanding. In particular, mobile applications are being introduced to pay for various services and goods, the number of non-cash payments is increasing, and payment for goods and services is being implemented through banking terminals.
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