About
SocialPay is the mobile wallet of Mongolia's Golomt Bank, launched in 2017 and described by the bank as the country's first digital wallet. Users store bank cards in the app and pay by scanning or showing a QR code or barcode, by NFC tap or through QPay, and can send money or request payment without knowing the recipient's account details. It was the first Mongolian wallet linked to UnionPay's international QR and barcode network, so a bound UnionPay card pays at UnionPay merchants in more than 50 countries (as of 2020). The 2023 SocialPay 3.0 release added virtual Visa, Mastercard, UnionPay and American Express cards and voice-initiated transfers.
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