The National Bank of the Kyrgyz Republic has published a new resolution significantly raising the minimum capital requirements for payment organizations and payment system operators. The document will come into force 15 days after its official publication.

Now, in order to obtain a license, newly established companies will have to meet the following requirements:

• Payment organization — at least 30 million soms
• Payment system operator — at least 20 million soms
• If a company combines both functions — at least 50 million soms

Additional requirements are being introduced for companies providing specific types of services. For example, if an organization is engaged in cross-border payments or card acquiring, the minimum authorized capital may be up to 110 million soms.

For existing players, the transition to the new requirements will take place in stages, from October 2025 to October 2027. For example, by 2027, all existing payment organizations must bring their authorized capital to at least 30 million soms, and companies that combine both functions must bring it to 50 million soms.

Separate conditions have been established for systemically important operators. Their authorized capital must be at least 310 million soms, and for significant and critical providers — 210 million soms. They will have 12 months from the date the resolution comes into force to adapt to these requirements.

The National Bank also clarified that companies that applied for a license before the new rules came into force will be able to register under the old requirements. However, once they get their license, they'll have to meet the new minimum capital requirements.