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Mongolia

Mongolian Tugrik (MNT)

Mongolians typically pay either with cash or by electronic payments. eCommerce is helping the country overcome geographical obstacles and develop its economy. Mongolia has improved its technological systems to aid this, such as increasing internet connectivity and boosting digital literacy among its youth. However, cross-border digital payment options remain limited.

Mongolia flag

Population

3,398,366

Banked Population:

98.17%

Group 427321246

Main industries

Construction, Mining, and Agriculture

Group 427321247

Main imports

Refined Petroleum, Cars, Delivery Trucks, Trailers, and Electricity

Group 427321248

Main exports

Copper Ore, Coal Briquettes, Gold, Iron Ore, and Animal Hair

GDP stats

$4,946.8

Per capita (USD)

4.8%

Growth annually

124

World ranking

Internet usage

84%

Smartphone usage

52%

Credit/debit card usage

6.96%

Group 427321245 1

Total volume of digital payments projected to reach

 $4,065.00M (USD)

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Payment Methods in Mongolia

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