Published
10/29/2024, 14:27The National Bank has extended the licence of the microcredit company ‘M Bulak’ for operations with bank cards. A resolution of the Payment System Committee dated 24 October 2024 extended the licence under the special regulatory regime until 1 May 2025.
The extended licence allows ‘M Bulak’ to issue prepaid limited function prepaid credit cards of the national payment system ‘Elkart’ for cashless credit issuance.
In addition, the company retains the right to Elkart, Visa and Mastercard cards acquiring through POS terminals and QR codes. This includes entering into agreements with merchants to install terminals and use QR codes to accept Elkart, Visa, Mastercard and local electronic money as payment for goods and services. ‘’M Bulak‘’ will also continue to provide settlements with trade and service enterprises under agreements with commercial banks and operators of electronic money settlement systems.