Licensing of Payment Services Providers

The following entities have satisfied the requirements stipulated in the Law on National Payment System and; therefore, have been licensed by the Bank of Mongolia to provide payment services in Mongolia.

  • Payment card issuing and acquiring service: 12 commercial banks, "Ashidcapital NBFI", "360 Finance NBFI" LLC and "BONUM" LLC
  • Payment card acquiring service: "Highpay" LLC, Ministry of Finance of Mongolia, "Data Bank" LLC, "Negdy Processer" LLC
  • Payment card issuing service: "ArdCredit NBFI" JSC
  • Settlement agent: XacBank, GolomtBank
  • Payment card processing service: "360 Finance NBFI" LLC, TDBM, "Data Bank" LLC, "KKTT" LLC, "M Chat" LLC, "M" LLC, XacBank and “Gerege Systems” LLC
  • Mobile banking processing service: "Most Fintech" LLC and "KKTT" LLC
  • E-money issuance service: "Mobifinance NBFI" LLC, "SuperUp Wallet" LLC and "ArdCredit NBFI" JSC, ”MPSC” NBFI, “InvesCor wallet” NBFI , "High Payment Solutions" LLC, “Net capital finance corporation” NBFI and "Data Bank" LLC
  • Payment card clearing service: TDB (between its participants).
  • Get outsourcing service: "KKTT" LLC, Golomt bank, Trade and Development Bank, XAC bank, Khan Bank, Capitron Bank, Arig Bank, National Investment Bank, State Bank, Bogd Bank, Transport Development Bank, "Mobifinance NBFI" LLC, "ArdCredit NBFI" JSC, “Netcapital Finance Corporation NBFI” LLC

Click here to view the full list of licensed entities in Mongolia.