Mir Card Transactions Halted in Kyrgyzstan by National Bank
Russian Payment Systems See Decrease in Activity in Kyrgyzstan
According to a bulletin released by the National Bank of the Kyrgyz Republic, Russian payment systems are experiencing a significant decrease in activity in the country. The report highlights that cards from the Mir payment system have essentially stopped being used in Kyrgyzstan, with no recorded transactions or cash withdrawals in the third quarter of 2024.
Similarly, the Zolotaya Korona payment system is also facing a decline in usage, although with some variations. While payments using this system in trade terminals came to a halt in the third quarter of 2024, there were still 8,500 cash withdrawal transactions totaling 81 million soms through the system.
Despite the decrease in transactions at retail outlets, the report emphasizes that cash withdrawals through the Zolotaya Korona system are still being carried out in Kyrgyzstan.
These trends suggest a shifting landscape in the payment sector in Kyrgyzstan, with potential implications for the financial services industry in the country. It will be interesting to see how the market adapts to these changes and what alternatives may arise in the coming months.
