Mongolia, a landlocked country in East Asia, has a developing financial system. Cash remains the most prevalent form of payment, but digital payments are starting to gain traction. The government is promoting the adoption of digital payments to improve financial inclusion and encourage economic growth. Mongolia’s payment system shows a growing use of digital methods alongside continued reliance on cash, particularly in rural areas. Credit and debit cards (Visa, Mastercard) are becoming increasingly accepted, especially in urban centers. Mobile payment platforms are expanding, but their adoption remains lower compared to some more developed countries. Online banking and electronic transfers are common, particularly for business transactions. Cash retains a significant role, reflecting ingrained consumer habits and the relatively limited reach of digital financial infrastructure across all parts of the country.
Estimated Population
3.3 million
Currency
Mongolian tögrög (MNT)
All supported payment methods for Mongolia:
Visa, Mastercard, American Express, JCB, UnionPay International, Discover, Diners Club, Apple Pay, Google Pay, PayPal, MaestroPopular payment methods
Mastercard
Credit/Debit Cards
Unlock a world of payment possibilities with Mastercard, a trusted global leader in secure and convenient transactions
American Express
Credit/Debit Cards
Elevate your business with American Express, a premium payment network that attracts discerning customers and drives higher-value transactions.
JCB
Credit/Debit Cards
JCB is a leading international payment network, offering a unique opportunity for businesses to reach a growing customer base, especially in Asia-Pacific.
UnionPay International
Credit/Debit Cards
UnionPay is the world’s largest payment network, offering businesses the opportunity to tap into the vast Chinese market and beyond.
Discover
Credit/Debit Cards
Discover is a leading payment network that offers a unique combination of security, rewards, and customer service, making it an attractive option for businesses.
Diners Club
Credit/Debit Cards
Diners Club is a global payment network renowned for its premium services and exclusive benefits, offering businesses access to a discerning clientele.
Apple Pay
Wallets
Apple Pay offers businesses a convenient and secure way to accept payments from iPhone, Apple Watch, and Mac users, enhancing the customer experience and boosting sales.
Google Pay
Wallets
Google Pay empowers businesses to offer a fast, secure, and convenient mobile payment experience, attracting a wide range of customers.
