Published
11/06/2026, 11:59The Kyrgyz Interbank Processing Center has introduced a new instant payment system, LPay KGD. It will enable instant transfers between companies, allow users to pay for purchases using a single QR code, and facilitate money transfers via phone number.
According to Altymysh Turatbekov, chairman of the IPC’s board, the system was developed taking into account suggestions from the banking and payment sectors, as well as user feedback.
For the average user, the main advantage of LPay KGD is the ability to pay using a single QR code, regardless of which bank they use. The system also allows users to transfer money using a phone number, after verifying the recipient’s name and selecting the appropriate bank. Payments are processed in a matter of seconds at any time of day, including weekends. This saves users the trouble of having to search for a specific bank’s QR code or figure out which payment system to use to accept payments.
He noted that five commercial banks are currently in the process of transitioning to the new system’s operational environment. Going forward, the IPC plans to expand the number of participants.
LPay KGD offers several key features:
Cross-border payments represent a separate area of development for the system. Kyrgyzstan has already integrated with the Chinese payment system Alipay.
By the end of 2026, the MPC plans to finalize its collaboration with the National Payment Corporation of Kazakhstan on the mutual acceptance of QR payments. Work is also underway to develop payment partnerships with Uzbekistan and Turkey.
According to Altymysh Turatbekov, the rollout of the new system will continue, taking into account the needs of the banking sector and customers.
