Turkmenistan

38% internet penetration in 2023.

Turkmenistan plans to create a digital bank, and has been working on QR code payments and fairly recently added contactless card payments. Between January-June 2020, the volume of non-cash payments made through bank cards exceeded 814.8 million manats, which was 2.42 times more compared to the corresponding period last year. Banks introduced cashbacks to reward credit and debit card spending. Turkmenistan has plans to develop a digital bank, but as yet, Open Banking does not feature.