The National Bank plans to implement a fast payment system based on ELQR

Сергей Мацера Exclusive
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- In Kyrgyzstan, the implementation of a fast payment system is planned, which will enable money transfers and various payments in real-time, 24 hours a day, 7 days a week. This was reported by Nurgul Tashbekova, head of the digital financial technologies department of the National Bank.

According to her, the new system will provide instant access to funds for recipients and will operate without interruptions, including on weekends and holidays.

The system will be built on the existing platform of the ELQR operator. Users will be able to make transfers using various identifiers, such as a mobile phone number, bank account, or card.

The National Bank noted that the implementation of this system is aimed at improving the existing architecture of QR payments, as well as expanding the functionality and usage scenarios for both individuals and legal entities.

It is also expected that the new system will enhance the availability, speed, and security of cashless transactions in the country.
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