ELQR
ELQR is a national payment system in Kyrgyzstan that utilizes QR codes for secure and convenient financial transactions. Launched in May 2022, it allows users to send money from their online banking applications directly to any other bank or payment system within the country by scanning a QR code. This system has rapidly gained traction, becoming a central part of the digital transformation of financial services in Kyrgyzstan. As of April 1, 2025, more than 67 thousand QR codes have been installed in the country, over 121 million transactions worth 182.4 billion soms have been recorded.
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Reasons for Popularity
Government Support and Infrastructure Development: The Kyrgyz government, alongside the Interbank Processing Center (MPC), has actively promoted the adoption of cashless payment systems as part of broader economic modernization efforts
Support from Financial Institutions: A wide range of banks and payment services support ELQR, enhancing its usability across different platforms
Technological Integration: ELQR's foundation on QR code technology simplifies transactions, allowing users to complete payments in just a few step
