RESOLUTION OF BOARD OF NATIONAL BANK OF THE KYRGYZ REPUBLIC

of May 24, 2023 No. 2023-P-14/34-4-(PS)

About approval of the Concept of development of System of bystry payments in the Kyrgyz Republic

For the purpose of development of digital payment infrastructure in the Kyrgyz Republic, increases in cashless payments, expansions of access of the population to financial services, being guided by Articles 5, 9 and 64 constitutional Laws of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic", the Board of National Bank of the Kyrgyz Republic decides:

1. Approve the Concept of development of System of bystry payments in the Kyrgyz Republic it (is applied).

2. To management of payment systems to publish this resolution and the Concept of development of System of bystry payments in the Kyrgyz Republic on the official website of National Bank of the Kyrgyz Republic.

3. This resolution becomes effective from the date of official publication.

4. To management of payment systems within 3 (three) working days to bring this resolution to the attention of operators of payment systems, commercial banks of the Kyrgyz Republic, OYuL "Union of Banks of Kyrgyzstan" and OYuL "Association of Operators of Payment Systems of the Kyrgyz Republic".

5. To department "Secretariat of Board" within 3 (three) working days to bring this resolution to the attention of structural divisions, regional managements and Representative office of National Bank of the Kyrgyz Republic in Batken Province.

6. To impose control of execution of this resolution on the board member of the National Bank of the Kyrgyz Republic supervising management of payment systems.

Appendix

to the Resolution of Board of National Bank of the Kyrgyz Republic of May 24, 2023 No. 2023-P-14/34-4-(PS)

The concept of development of System of bystry payments in the Kyrgyz Republic

I. Introduction

Now bystry development of digital technologies and gadgets, electronic commerce results in need of provision for consumers of convenient, bystry, profitable payment services on instant money transfer from the card on the card, from e-wallet on e-wallet or to carrying out payments for goods and services in trade and service companies, etc.

In 2022 the National Bank of the Kyrgyz Republic (further - National Bank) together with commercial banks and operators of payment systems / payment institutes finished actions for ensuring intersystem integration of payment systems (bank cards, e-wallets and mobile applications) with use of two-dimensional symbols of barcode (QR code) that allowed the population of the country to transfer money and/or to pay for goods/services in national currency in trade and service companies (further - TSP) with use of QR code by means of any mobile application of the bank or payment institute established on the mobile phone.

Creation of service of bystry payments provides possibility of its use by all participants of the market of payments: legal entities and physical persons, banks and the non-bank organizations, the state organizations and others from the point of view of satisfaction of demand for acceleration of payment processes and calculations.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info