BISHKEK, Kyrgyzstan, November 12. A new international money transfer system, Kwikpay, has been launched in Kyrgyzstan, Trend reports.
Based on data from the National Bank of Kyrgyzstan, the Kwikpay system is now included in the register of international money transfer systems, making it the 16th registered operator in the country.
Headquartered in Moscow, Kwikpay specializes in facilitating money transfers to bank cards in Russia, Tajikistan, Kyrgyzstan, Kazakhstan, and other countries through its mobile application. The system is versatile, allowing the use of any Mir bank card, as well as Visa and Mastercard, for international transfers.
The Bank of Russia officially registered Kwikpay on August 25 of this year as a new payment system for international transfers.
As of June 30, 2023, the existing money transfer systems in Kyrgyzstan included Western Union, Contact, Money Gram, Unistream, Zolotaya Korona, RIA, UPT, and Astrasend.
Simultaneously, the total number of banking payment cards in circulation in Kyrgyzstan reached 6,102,700 cards on June 30. Compared to the same date in the previous year, the number of cards increased by 41.5 percent, and compared to the beginning of 2023, it increased by 16.6 percent.