International business forum dedicated to 30 years of cooperation between Turkmenistan and Visa took place in Ashgabat on Wednesday, as reported in the newspaper Türkmenistan published on Saturday.
The agenda covered achievements in financial technology, the prospects of digitizing the banking system, and the security of payment transactions.
Leading experts in digital payments participated in the forum, discussing the role of innovation in developing the international payment system.
Particular attention focused on the national card Milli Visa, developed in collaboration with Visa. This product offers modern solutions for cashless transactions, remote payments, and e-commerce, while ensuring a high level of transaction security through VSDC technology.
The State Bank for Foreign Economic Activity currently services about 500,000 cards, with 58 percent of transactions conducted in cashless format.
Turkmenistan's cooperation with Visa began in 1994 when the State Bank for Foreign Economic Activity joined the international payment system Visa International.This step opened new opportunities for integrating the country into the global financial infrastructure.
In 2016, Halkbank and Senagatbank joined the company’s projects, and since 2019, Visa cards have been issued, accelerating the country’s transition to cashless payments.