According to the Central Bank of Turkmenistan, the number of Bank cards used in our country has exceeded 4 million 288 thousand 600, the state information Agency of Turkmenistan reports.

In January-June 2020, the ratio of non-cash payments by Bank cards to the total volume of non-cash payments exceeded 2.42 times compared to the corresponding period in 2019.

With the increase in the number of Bank cards, ATMs, payment and information terminals and the expansion of the range of transactions, constant monitoring is carried out, as well as serious work is being done to ensure the security of the payment system.

To provide customers with modern technologies in the payment and settlement system of Turkmenistan on the basis of joint-stock commercial Bank "Rysgal" in retail and service networks, QR-code testing was successfully carried out. Maestro contactless Bank payment cards were also launched.

To further increase the number and volume of non — cash payments in the country's banks, a "Cashback" service has been developed for customers-the return of part of the money to the Bank card when making purchases. After studying the world experience, appropriate changes were introduced to the regulatory framework of Turkmenistan. The share of money refund when using the "Cashback" service is from 0.5 to 2 percent of the amount of non-cash transactions made by customers of credit institutions in the country.

With the development of mobile Internet technologies and the expansion of smartphone functions, applications are becoming a convenient and effective tool, whose users log in several times daily to check their account balance, view completed transactions, make transfers and pay for services, as well as to receive or repay a loan, purchase, insurance, and so on. Since the introduction of mobile applications for payment of various services and goods, the number of non-cash payments has been increasing in Turkmenistan. Payment for goods and services is made via Bank card terminals.

At the gas stations of "Turkmennebitonumleri", opportunities have been created for paying for gasoline with Bank cards through mobile payment terminals, and mobile terminals have been installed for replenishing plastic road cards used for paying for public transport.

All cash desks of closed Joint-Stock companies "Ashgabat city telephone network", "Altyn Asyr", State companies "Turkmentelecom" and "Turkmenpochta" have the opportunity to accept payment in non-cash form.

Customers of banks widely use the services of the "Internet banking" and "Mobile banking" systems to top up their mobile phone accounts, IP-TV and the Internet, and through special applications they can purchase tickets for travel on railway transport and intercity buses.

Banks of the country offer services for opening Deposit (Deposit) Bank cards "Goyum bank karty" with dividends of 5-7 percent per annum, where at the request of the client on the "Mashgala" (Family) card, family members are allowed to use the funds of the salary card within the established limit. In January—June 2020, the volume of non-cash payments via ATMs, terminals, “Internet banking”, “Mobile banking” and e-Commerce increased by 3.13 times compared to the same period in 2019.

In the future, it is planned to create a "Digital Bank". This is primarily a Bank without branches, which are replaced by employees of the customer service-call center. Such a Bank should have developed remote digital services — “Internet banking”, mobile banking, personal accounts, websites and other specialized services for private and corporate clients. These channels usually account for more than 90 percent of customer contacts that can be made within 24 hours.

Creating an infrastructure for implementing technological innovations is, first of all, organizing the management of the digitalization process, creating mechanisms for ensuring information security. One example of this process in Turkmenistan is an overdraft or the same loan. The Bank issues it under certain conditions: the maximum loan amount, interest on it, interest-free period (if there is one), fines and penalties in case of delay are stipulated in advance.

As a confirmation of the successful digitalization of innovative banking services, we can cite the introduction of an overdraft in the State Commercial Bank "Halkbank", provided by the Bank card "Altyn Asyr". The interest rate on an overdraft loan is at the level of 12 percent and can be adjusted based on the decision of the credit Commission of “Halkbank”.

Further development of digital channels of interaction will allow us to provide banking services in the right amount and at the right time for the client.