Halkbank Launches NFC and QR Code Payment App For Transactions

Halkbank Launches NFC and QR Code Payment App For Transactions
Joint-Stock Commercial Bank Halkbank, Atamyrat Niyazov Avenue (2038), Ashgabat, Turkmenistan

Joint-Stock Commercial Bank Halkbank has announced the development of a software application named "Digital Card" for mobile phones. The app is designed to facilitate contactless payment transactions using NFC and QR code technologies. Deputy Chairman of the Cabinet of Ministers for Economic and Financial Affairs, Hojamyrat Geldimiradov, reported this development to the President of Turkmenistan, Serdar Berdimuhamedov, during the regular meeting of the Cabinet of Ministers on Thursday.

The Deputy Prime Minister of Turkmenistan has stated that the country is working on improving the settlement and payment system of credit institutions as part of the "State Programme on the development of digital economy in Turkmenistan for 2021-2025." This initiative aims to modernise and enhance the financial infrastructure to support the growth of the digital economy.

President of Turkmenistan Serdar Berdimuhamedov emphasised the importance of the new "Digital Card" banking service for citizens who make payment transactions via mobile phones. He instructed the Deputy Prime Minister to ensure the perfection and relevance of payments for goods and services.

NFC (Near Field Communication) is a wireless communication technology that facilitates data exchange between devices when brought into proximity and enables convenient data transfer between devices.

A QR code (Quick Response code) is a type of two-dimensional barcode that can store a large amount of information and is quickly read by an imaging device such as a camera.