Published
12/19/2025, 13:35The international electronic money market in Kyrgyzstan is mainly represented by companies from Kazakhstan. This is evident from the register of operators and issuers of international electronic money registered by the National Bank.
The NBK KR register includes 12 international electronic money systems authorized to operate in the country. Of these, 9 systems are managed by companies registered in Kazakhstan. This makes Kazakh businesses key players in this segment of the Kyrgyz financial market, as they account for 75% of companies in the market.
Among the systems with Kazakhstani operators are Wallet One, Innopay, WebMoney Kazakhstan, One Click, Interpay, Cashello.kz, Yurta, OneVision, and MaxPay. All of them are registered in Almaty and represented by limited liability partnerships (LLCs) operating in the field of fintech and payment solutions. Thus, the main beneficiary in the Kyrgyzstan international electronic money systems market is Kazakhstan.
Most of these systems were registered with the National Bank of the Kyrgyz Republic between 2017 and 2023. This coincides with the active growth of cross-border payments and electronic wallets in the EAEU.
Russian capital in the register is represented by one large system, Zolotaya Korona, operated by RNKO Payment Center (Novosibirsk). This is one of the earliest systems registered in Kyrgyzstan, back in 2016.
The registry also includes two Canadian companies, KOLO Financial Services LTD and Cabbagino Payments LTD, registered in the province of British Columbia. Their share is small in terms of quantity, but they reflect the interest of North American fintech in the Central Asian market.
The registry does not include any international electronic money systems under Kyrgyz jurisdiction. This means that the cross-border electronic payments segment in the country is actually served by foreign companies, primarily from Kazakhstan.
