Elcard chip payment card was put into circulation in Kyrgyzstan. The deputy chairwoman of the National Bank of the Kyrgyz Republic Lada Orozbaeva told today at a press conference.
According to her, the Kyrgyz Republic has reformed the payment system 10 years ago. As a result, unified national payment system appeared on the market of the country and the transition to electronic payments has been completed. One of the components of the national system is Elcard payment card.
"Kyrgyzstan was one of the first countries in CIS which created a processing center and issued a national payment card. All the state employees will be transferred to Elcard until the end of 2016," Lada Orozbaeva told.
The magnetic cards have been used for 10 years since the date of their issue. Now they have become chip ones. The chip is selected based on international standards. Now Elcard will have the same chip as that of Visa and Mastercard.
The new chip Elcard can be used for recording digital signatures, biometric data, special applications.
The new technology will spread to all ATMs and terminals before the end of October. The succession of different generations of cards is maintained. This means that both magnetic and chip cards will work side by side.