Mongolia has taken a significant step toward modernizing its payment systems with the launch of Apple Pay, the digital payment service by global tech giant Apple. This development, spearheaded by the Bank of Mongolia in collaboration with Golomt Bank and Trade and Development Bank (TDB), marks a major milestone for the country’s financial ecosystem.
Apple Pay allows users to make secure and contactless payments via iPhones and Apple Watches, offering a seamless experience for both local and international transactions. For the first time, Mongolia’s national payment “₮ card” can now be used for international payments, broadening the horizons for Mongolian citizens traveling abroad or shopping online.
Thanks to this integration, more than 150,000 point-of-sale (POS) devices across Mongolia are now equipped to accept payments via Apple Pay, giving customers greater flexibility and convenience.
This advancement reflects Bank of Mongolia’s commitment to enhancing the country’s payment system infrastructure and supporting innovative solutions developed by commercial banks and fintech companies. By localizing payment services to meet international standards, the Bank of Mongolia is paving the way for a more interconnected and reliable financial system.
Looking ahead, Mongolbank plans to continue supporting the adoption of advanced payment technologies, ensuring Mongolia remains at the forefront of financial innovation.
For expats in Mongolia, the arrival of Apple Pay is a game-changer, offering a familiar, reliable, and secure way to manage transactions in a rapidly evolving digital economy.
