Ashgabat, (TDI): In a significant development at the International Conference “HI-TECH Turkmenistan 2024,” Swedish IT company CMA has secured an exclusive agreement with Turkmen firm Abraýly Işler to establish a national fast payment system for Turkmenistan.
CMA’s Regional Director, Maxim Nescheret, highlighted the importance of this partnership, stating, “We have successfully implemented similar projects in over 50 countries and look forward to applying our experience to create this crucial system for Turkmenistan.”
Established in 1983, CMA provides advanced solutions for instant payment systems, central depositories, and automated clearing houses to more than 37 central banks and numerous commercial banks worldwide.
The company’s technology is known for its high performance, scalability, and security, tailored to meet individual client needs.
Alongside the fast payment system, CMA is also exploring opportunities to develop additional services with Turkmenistan’s stock market, such as a central depository and settlement center.
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Foreign Investments in Turkmenistan
These initiatives aim to attract foreign investment and foster greater cooperation with international investors.
Despite ongoing efforts to modernize its banking sector, including the rollout of contactless payment systems and mobile applications, Turkmenistan faces several challenges.
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Key issues include inadequate infrastructure for supporting fast and contactless payments and limited adoption of new technologies.
Local banks, including Halkbank, have introduced mobile apps and terminals for contactless transactions, but usage remains low, and technical issues often lead to financial losses for users.
