Turkmenistan’s Rysgal Bank Introduces QR Code Payment System

BUSINESS TURKMENISTAN
Turkmenistan’s Rysgal Bank Introduces QR Code Payment System
A QR code is a two-dimensional barcode, scanning of which with a smartphone or tablet allows the user to receive “quick” information.

Rysgal JSCB has unveiled a system of quick payments using a QR code in Turkmenistan, Neytralnyi Turkmenistan newspaper reported on Thursday.

According to the head of the Plastic Cards Department Ovezmyrat Muhamedorazov, a QR code is a two-dimensional barcode, scanning of which with a smartphone or tablet allows the user to receive “quick” information.

“Currently, the QR code system is gaining more and more popularity in the world due to the active development of mobile technologies. It will soon become widespread in Turkmenistan,” Muhamedorazov continued. “For a large-scale implementation in the banking payment segment, the new system has undergone sufficient testing in various areas. The approbation has shown its complete reliability.”

Rysgal JSCB said the use of the QR-code payment system will increase the availability of banking services and improve the quality of customer service. Trade enterprises and banks are able to reduce the cost of purchasing POS terminals and bank cards.

A QR code, abbreviated from Quick Response code, is a type of matrix barcode first designed in 1994 by the Japanese company Denso.