The State Tax Service of the Kyrgyz Republic held a meeting to discuss issues related to the use of cashless payments in the business sector. Representatives from the National Bank, the Interbank Processing Center, as well as the Union of Banks and Commercial Credit Organizations were present at the event.
According to information provided by the press service of the STS, the main goal of the meeting was to discuss pressing issues raised by business representatives. Topics discussed included the use of business wallets, POS terminals, bank cards, accounts, and QR payments.
In particular, the participants identified several problems, such as high commissions for cashless payments, delays in crediting funds to entrepreneurs' accounts, and the lack of information about the payer in bank statements when using QR codes. Additionally, complex requirements and excessive procedures from certain banks that complicate business operations were noted.
As a result of the meeting, several proposals were made:
- to explore the possibility of reducing commissions for entrepreneurs when accepting cashless payments;
- to develop technical solutions to expedite the crediting of funds and improve payment transparency for recipients;
- to utilize existing electronic services of the STS for verifying the registration of entrepreneurs without the need for paper documents;
- to initiate changes in legislation to simplify the processes of opening bank accounts;
- to consider amendments to banking legislation allowing entrepreneurs to use personal wallets for their commercial activities within the framework of the digital economy.
Representatives of the National Bank and commercial banks expressed their readiness to address the identified issues and take necessary measures to resolve them within their competence, according to the STS data.
