Payment systems of the Kyrgyz Republic and China agree on mutual acceptance of QR payments

A memorandum of understanding was signed in Shanghai between the operator of the national payment system Elkart, Interbank Processing Centre CJSC, and the international platform Alipay+. The document was concluded with the assistance of the Trade Representation of the Ministry of Economy and Commerce of the Kyrgyz Republic in China and the National Bank of Kyrgyzstan.

The agreement will open up the possibility of mutual acceptance of QR payments between Kyrgyzstan, China and other countries where the Alipay+ ecosystem operates. This will allow foreign tourists to pay for purchases and services in Kyrgyzstan through their familiar applications, and Kyrgyz citizens to use ELQR abroad.

The project provides for the development of payment and acquiring systems infrastructure, the launch of joint initiatives and pilot projects. Particular attention will be paid to the protection of personal data and compliance with regulatory requirements.

The National Bank notes that the integration of ELQR into the Alipay+ international payment ecosystem will create new opportunities for business, simplify payments for citizens and visitors to the country, and be a step towards strengthening economic cooperation with China.