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: "High Payment Solutions" LLC, Ministry of Finance of Mongolia, "Data Bank" 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 Ыystems” 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

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