Regulation on Bank Payment Cards in the Kyrgyz Republic

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Appendix
to the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 9, 2015 No. 76/8

REGULATION on Bank Payment Cards in the Kyrgyz Republic

(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated June 8, 2017 No. 2017-P-14/23-15, August 15, 2018 No. 2018-P-14/33-4, November 15, 2019 No. 2019-P-14/56-4, November 4, 2020 No. 2020-P-14/64-1, December 29, 2021 No. 2021-P-14/75-4, March 29, 2022 No. 2022-P-14/18-3, July 27, 2022 No. 2022-P-14/47-7, December 7, 2022 No. 2022-P-14/76-6, June 14, 2023 No. 2023-P-12/38-3, August 23, 2023 No. 2023-P-14/53-5, May 22, 2024 No. 2024-P-14/23-2, May 30, 2024 No. 2024-P-14/25-6, November 22, 2024 No. 2024-P-14/61-1-(PS), December 26, 2025 No. 2025-P-12/70-6-(PS), January 21, 2026 No. 2026-P-39/3-2-(NPA))

Chapter 1. General Provisions

1. (Expired in accordance with the Resolution of the Board of the National Bank of the Kyrgyz Republic dated June 8, 2017 No. 2017-P-14/23-15)

2. The Regulation "On Bank Payment Cards in the Kyrgyz Republic" (hereinafter - the Regulation) defines the procedure for issuance, acquiring, and distribution of bank payment cards within the territory of the Kyrgyz Republic, rules for conducting operations, transaction processing performed using bank payment cards, as well as general requirements for settlement systems using bank payment cards that operate within the territory of the Kyrgyz Republic and their participants, in accordance with the laws of the Kyrgyz Republic "On Banks and Banking Activity", "On Microfinance Organizations in the Kyrgyz Republic", "On the Payment System of the Kyrgyz Republic", "On Electronic Signature", "On Countering Financing of Criminal Activities and Money Laundering (hereinafter - CFCAML)" and regulatory legal acts of the National Bank of the Kyrgyz Republic (hereinafter - the National Bank), including those based on Islamic financing principles taking into account their specifics and specialized terminology.

(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated June 14, 2023 No. 2023-P-12/38-3, November 22, 2024 No. 2024-P-14/61-1-(PS), December 26, 2025 No. 2025-P-12/70-6-(PS))

3. Activities related to the issuance and distribution of prepaid cards, as one of the forms of electronic money, are regulated by the Regulation "On Electronic Money in the Kyrgyz Republic", approved by the Resolution of the Board of the National Bank dated April 20, 2022 No. 2022-P-14/25-3-(PS).

(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated June 8, 2017 No. 2017-P-14/23-15, July 27, 2022 No. 2022-P-14/47-7)

4. All interactions between participants of the settlement system using bank payment cards, their liability, rights and obligations not stipulated by this Regulation, are established by corresponding contracts or agreements.

Chapter 2. Terms and Definitions

5. The following terms and definitions are used in this Regulation:

Automated self-service terminal (payment terminal) - a terminal designed for receiving (cash-in)/dispensing (cash-out) cash from bank clients, cardholders, and service users, including conducting operations in cash and non-cash forms to service providers.

Authorization request - a request from the acquirer to the card issuer for permission to conduct a transaction according to established system rules.

Authorization - the procedure by which the issuer confirms the cardholder's authority or authenticity to conduct an operation using a bank payment card (transaction), resulting in the issuer's obligation to the acquirer to execute the settlement document prepared using said card. Authorization may be automated (via terminal) or voice-based (via telephone). If the issuer and acquirer are the same entity for a transaction, authorization is considered permission granted by the issuer to the client.

Authentication - the procedure of verifying user identity by checking and comparing presented identifier characteristics (PIN code, password, etc.).

Bank payment card (card) - a payment instrument used for settling purchases of goods and services, obtaining cash in national and foreign currencies, making money transfers, and settling electronic money via terminals, ATMs, or other devices (peripheral devices).

Banking kiosk - a special structure/equipment housing peripheral devices.

Bank account - a method of reflecting contractual relations between the bank and client for accepting deposits and/or conducting banking services, including payments and settlements using bank payment cards as stipulated in the bank account contract, deposit agreement, Kyrgyz Republic legislation, and established banking practice.

ATM (Automated teller machine) - a hardware-software complex designed for dispensing and/or receiving cash, obtaining information on completed transactions, and conducting other operations using cards or remote service tools.

Contactless payment - a transaction performed by reading information from the card or other remote service tool at close range using wireless data transmission technology (NFC or similar).

Virtual card - a special card issued electronically without a physical carrier.

Virtual POS terminal - a web interface replacing the physical POS terminal, interacting with the bank/payment organization system to conduct goods and services payment operations using bank payment cards and other remote service tools, classified as an acquirer's peripheral device. A virtual POS terminal may also be used to replenish bank accounts considering risk assessment criteria per internal regulatory documents, and to comply with Kyrgyz Republic legislation.

Bank account holder - a natural/legal person/individual entrepreneur who has concluded a contract to open a bank account in accordance with Kyrgyz Republic legislation.

Debit card - a card designed for operations using the holder's own funds in their bank account and/or credit provided by the issuing bank if insufficient or no funds are available (overdraft). Overdraft services are provided exclusively on debit cards.

Cardholder - a natural person, including those authorized by a legal entity/individual entrepreneur account owner, who has the right to conduct operations using the card based on a concluded contract with the issuer.

Unified Interbank Processing Center (UIPC) - a hardware-software complex of the Kyrgyz Republic's national payment system "ELKART", designed for processing/clearing transactions performed using "ELKART" cards, as well as other systems' cards integrated with the UIPC.

Indent printing - one of the card personalization methods where various non-relief symbols are printed on the card, meaning they do not protrude from the surface.

Card receipt (receipt) - a paper and/or electronic document generated by peripheral devices during card or remote tool transactions, serving as the basis for transaction settlement and confirmation of its completion. To reduce fraud risk, receipts must not contain full card number information.

Co-badge card - a card issued under two payment systems.

Co-branding card - a card issued by a bank jointly with one or more organizations.

Credit card - a card designed for operations settled using funds provided by the bank to the cardholder within an established limit according to credit contract terms.

MFK/MCK credit card - a pre-issued national payment system credit card issued by microfinance and microcredit companies to provide loans/financing based on Islamic principles (hereinafter - loans) in non-cash form, in national currency, excluding overdraft, complying with CFCAML legislation and National Bank regulatory acts.

Local payment system - a settlement system using cards issued by one (single-issuer) or multiple (multi-issuer) issuers within the Kyrgyz Republic. Local system cards may be serviced in peripheral devices according to agreements between participants and systems.

International payment settlement system using bank payment cards (international payment system) - a settlement system using international cards issued and serviced according to data operators' requirements and Kyrgyz Republic legislation. The system establishes specific rules for foreign currency mutual settlements between participants.

Multi-factor authentication - extended authentication, an access control method requiring users to present more than one identifier to access information.

Mobile POS terminal (mPOS) - devices and/or software for smartphones/tablets and other equipment enabling transactions.

National card - a "ELKART" payment system card issued by any resident issuer that has concluded the corresponding contract with the national payment system operator.

National payment system for bank card settlements - a settlement system for operations using national "ELKART" cards, functioning on the basis of the Unified Interbank Processing Center's hardware-software complex.

Anonymous metal accounts - accounts opened by banks to account for precious metals without individual identifiers, enabling operations for attracting and placing precious metals.

Overdraft - a short-term credit form allowing clients to make payments exceeding their account balance within amounts and conditions defined in the bank-client contract.

National payment system operator - "Interbank Processing Center" Closed Joint-Stock Company (CJSC "IPC").

Settlement system operator using bank payment cards - a legal entity holding a National Bank license/permit to conduct receiving, processing, and issuing financial information (processing, clearing) for third-party payments to payment system participants. This processing/clearing center ensures the functioning of bank card settlement systems and has concluded participation agreements with participants, obligating them to operate within the payment system in accordance with Kyrgyz Republic legislation.

Payment by QR code - non-cash payment for goods or services using a bank/payment system mobile application or other devices by reading two-dimensional barcodes (QR code).

Peripheral (acquiring) devices - terminals, ATMs, payment terminals, applications, deposit machines, mobile devices, and other equipment forming the technical infrastructure/instruments for receiving and servicing bank payment cards, QR code payments, and other remote service tools.

Personalization - the procedure of applying identification information to cards and/or recording it in microprocessor memory and/or on magnetic stripes, as prescribed by the corresponding payment system's regulations.

Payment settlement system using bank payment cards (settlement system using cards) - a set of norms, standards, rules, institutions, and software-technical means for organizing card-based settlements. Payment systems are classified into local, national, and international.

User of MFK/MCK credit card - a client (natural/legal person) to whom an MFK/MCK issues funds (loans/financing) onto MFK/MCK credit cards and accepts repayments, according to concluded contracts and National Bank regulatory acts.

Service provider - a legal entity or individual entrepreneur receiving client funds for sold goods, performed works, or services.

Pre-issued card - a card issued instantly at bank/MFK/MCK branches (MFK/MCK credit cards) without the holder's surname and first name on the surface, valid for no more than 3 (three) years per this Regulation and CFCAML legislation.

Prepaid card - a payment instrument enabling the use of electronic money for purchasing goods/services and exchanging for cash via software-technical devices. The card certifies the holder's claim right against the electronic money issuer regarding their obligations.

Processing - a licensed activity involving interconnected processes of receiving, processing, and issuing financial information to payment system participants.

Processing center - a legal entity conducting processing.

Settlement agent - an organization ensuring final settlements between participants of the card settlement system.

Stop-list - a list of blocked cards where all types of operations are suspended or temporarily suspended.

Terminal - a hardware-software complex enabling transactions by reading data from cards and other remote service tools. Terminals are divided into: POS terminal; POS/Cash-in-Cash-out terminal; virtual POS terminal, mobile POS terminal, and Cash-in-Cash-out terminal.

Terminal-POS/Cash (Terminal-PVN) - a terminal for dispensing cash from cards and other remote tools, as well as replenishing bank accounts via cards and remote tools in bank branches and agents, considering risk assessment criteria per internal documents and Kyrgyz Republic legislation. Cash-out commissions via Terminal-PVN for subsequent payments must not be passed on to the cardholder.

Retail and service enterprise (RSE) - a legal entity or individual entrepreneur that, per agreements with acquirers, accepts cards for payment of their goods/services and dispenses cash while preparing documents confirming card operations. Funds on the card may be dispensed only if an agency agreement with commercial banks exists and within limits set by National Bank regulatory acts, provided CFCAML legislation requirements for simplified identification and verification of cardholders using a risk-oriented approach are met.

Transaction - an operation using cards and other remote service tools (e.g., purchasing goods/services, transferring funds, currency exchange, or obtaining cash), resulting in changes to the cardholder's account balance.

Participants of the settlement system using cards - issuer, cardholder, acquirer, RSE, processing center, and settlement agent.

Chargeback - a return or claim payment, where the issuer refuses to execute a transaction conducted in violation of payment system rules (disputed transaction). Chargebacks are executed within the regulatory timeframe by debiting the acquirer's account for the disputed transaction amount, with documentation required by respective payment system rules.

Acquirer - a bank, payment organization, MFK, or MCK that owns peripheral devices enabling authorization or transactions through their devices according to respective payment system technologies, regulatory acts, and Kyrgyz Republic legislation.

Acquiring - activities related to owning and servicing peripheral device networks for receiving payments using bank payment cards and other payment instruments/technologies based on agreements with retail enterprises for accepting and conducting payments and settlements for goods and services according to respective payment system rules.

Depending on the tools used for payments, acquiring is divided into the following main types:

Retail acquiring - a service provided by acquirers to retail enterprises (hereinafter - RSE) for installing POS terminals and other peripheral devices to receive and conduct non-cash payments using various payment instruments based on concluded contracts.

Internet acquiring - a service provided by acquirers for receiving and conducting non-cash payments using payment cards and electronic money for goods/services sold via e-commerce platforms and online stores through a special web interface that ensures payment information transmission and confidentiality.

Mobile acquiring - a service provided by acquirers for receiving and conducting non-cash payments using payment cards through mobile applications and special mobile POS terminals (mPOS terminals) utilizing mobile phones or tablets.

Embossing - applying data to cards in the form of relief signs.

Card issuance - the issuer's activity for releasing cards for subsequent distribution.

Issuer
– a bank or MFK/MCK issuing cards according to respective payment system technologies, regulations, and Kyrgyz Republic legislation.

CVV2 code (Card verification value) - a three-digit code for verifying card authenticity, requested during online payments and other operations.

PIN code (Personal identification number) - a personal identification number allowing user authentication for conducting operations.

POS terminal (Point of sale) - a terminal for accepting payment for goods and services at RSEs using cards and other remote service tools.

POS terminal-POS/Cash (POS-PVN) - a terminal performing two functions: POS terminal and Cash-in-Cash-out terminal.

(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated December 29, 2021 No. 2021-P-14/75-4, May 22, 2024 No. 2024-P-14/23-2, November 22, 2024 No. 2024-P-14/61-1-(PS), December 26, 2025 No. 2025-P-12/70-6-(PS))

Chapter 3. Procedure for Conducting Payments Using Cards

6. The card is manufactured based on a plastic blank, the technical characteristics of which comply with the requirements, regulations and operating procedures of the payment system approved by the payment system operator. Card blanks must contain a special device, information carrier (magnetic stripe, microprocessor (integrated circuit), and/or other) for performing card personalization and storing the functional characteristics of the card of the corresponding payment system.

7. Depending on the payment system's regulations and operating procedures, as well as the settlement scheme type, the card may be debit, credit, pre-issued, prepaid, co-badge and/or co-branding. The card may also be issued by the issuer in electronic form (virtual card). Commercial banks must have internal procedures for operations with virtual cards, including security rules for their conduct and settlement. The card enables its holder to conduct operations for payment of goods and services, including online purchases, obtaining cash through peripheral or other devices, and serves as an access tool to a bank account for managing funds held in the bank account by its holder, including for accounting and conducting operations with precious metals placed on an anonymous metal account opened with the issuer, in accordance with the legislation of the Kyrgyz Republic and the contract between the cardholder and the issuer.

(As amended by the Resolution of the Board of the National Bank of the Kyrgyz Republic dated December 29, 2021 No. 2021-P-14/75-4)

8. Depending on the bank account currency, the card enables the holder to conduct foreign exchange operations in accordance with the system's regulations and operating procedures when making non-cash settlements and obtaining cash both within and outside the territory of the Kyrgyz Republic. Conversion conditions must be established in the contract with the cardholder. The contract must necessarily include a conversion scheme from one currency to another, providing for various conversion options when the cardholder conducts operations in a currency different from that of their bank account, which the cardholder must review and sign.

(As amended by the Resolutions of the Board of the National Bank of the Kyrgyz Republic dated December 29, 2021 No. 2021-P-14/75-4, March 29, 2022 No. 2022-P-14/18-3)

9. The card is individual (personal) if the cardholder, a natural person, is an account holder based on a bank account contract and/or credit contract concluded between the cardholder and the issuer. Any operations for crediting and debiting funds using an individual card are carried out from the cardholder's bank account.

10. The card is corporate if the cardholder, a natural person, conducts operations using the card in accordance with powers granted to them by a legal entity/individual entrepreneur, who is an account holder. Debit operations are carried out from the corporate account of such legal entity/individual entrepreneur.

11. The card is primary if its holder is the bank account owner.

12. The card is supplementary if the bank account owner authorizes a trusted person to conduct operations on their bank account within amounts and conditions established in the contract between the issuer and the bank account owner. In this case, the bank accounts for fund movements on primary and supplementary cards separately for each card.

13. The card must contain mandatory details on its surface: the issuer's name, card number, surname and first name of the cardholder, company name (for cards linked to legal entity/individual entrepreneur accounts, if applicable), card validity period, affiliation with the payment system and other details provided by the requirements of the corresponding payment system. The requirements of this clause do not extend