Bishkek, 30 August 2024 (TDI): Kyrgyzstan and South Korea have launched a new joint venture, BC Card Kyrgyzstan, for payment processing.
The venture is a significant collaboration between South Korea’s leading payment companies BC Card and Smartro, and Kyrgyzstan’s ZAO Mezhbankovskiy Interbank Processing Center.
The opening ceremony was attended by Akylbek Japarov, Chairman of the Cabinet of Ministers of Kyrgyzstan, who underscored the venture’s importance for the country’s financial infrastructure.
He remarked, “This event signifies a crucial advancement in our bilateral relations and financial infrastructure. The establishment of BC Card Kyrgyzstan aims to modernize and adapt the advanced payment processing system.”
Kyrgyzstan and South Korea launched BC Card Kyrgyzstan, a JV aimed at modernizing the country’s payment infrastructure. The partnership involves South Korea’s BC Card, Smartro, and Kyrgyzstan’s ZAO Mezhbankovskiy Interbank Processing Center.
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Kyrgyzstan’s Commitment to Promoting Non-cash Payments
Japarov emphasized the government’s commitment to promoting non-cash payments through the State Program for 2023-2027.
He highlighted that the shift towards cashless transactions not only modernizes the economy but also enhances financial security and inclusion.
“Our objective is to make the payment process so smooth that even those accustomed to cash will find the transition to new technologies irresistible,” he stated.
In a symbolic gesture, Japarov conducted the first transaction using the BC Card Kyrgyzstan system, marking the start of a new era in Kyrgyzstan’s payment infrastructure.
