JSC "Interbank Processing Center" (IPC), which operates the "Elkart" system, and Mastercard have agreed to develop joint projects in the field of digital payments. The main result of the cooperation will be the issuance of the "Elkart–Mastercard" co-branded card.
How the new payment tool will work
The new product will allow users to make purchases outside of Kyrgyzstan using funds from their existing "Elkart" card. There will be no need to open a new account or issue an additional plastic card. Within the country, transactions will be processed through the "Elkart" infrastructure, while abroad, they will go through the Mastercard international network.
The digital card will provide access to a wide payment acceptance network and modern smartphone payment methods.
Card features
- Addition to digital wallets Apple Pay, Google Pay, and Garmin Pay
- Paying for purchases abroad using a smartphone or smartwatch
- Making payments on foreign online platforms
Context
The signing of the memorandum was attended by Altymys Turatbekov, Chairman of the Board of JSC "IPC", and Sanzhar Jamalov, General Manager of Mastercard in Kyrgyzstan and Central Asian countries. Mastercard's headquarters is located in Purchase.
