Mongolia

MN · MNG · 496Asia-PacificMNT ₮18 methods

5 sources

QPay is the dominant QR payment system, accepted at over 200,000 merchant locations throughout Mongolia.

~2.8M

online population

~86%

banked adults

~25%

credit card population

Mix Methods Behaviour Banks Sources Facts

Payment mix

share of e-commerce spend

CategoryShare

Card35%
QR / Mobile Wallet30%
Cash25%
Bank Transfer10%

Methods in use

top 8 of 18

MethodType

All 18 methods in Mongolia →

Checkout behaviour

The digital payments market is projected to grow 14.49% from 2025 to 2028, reaching US$6.7 billion total transaction value in 2025.

Apple Pay was introduced in 2024 and Google Pay in 2025, marking significant milestones in international payment integration.

Facts

ISO 3166: MN · MNG · 496
Region: Asia-Pacific
Population: 3.5M
Currency: MNT ₮
Banked adults: ~86%
Methods live: 18
Banks covered: 1

Largest banks

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Sources

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