Mongolia
Mongolia’s payment landscape in 2026 is mobile-first, with digital wallets leading how consumers transact. Alternative payment methods account for around 95% of transaction volume, reflecting a rapid shift toward a cashless economy. For businesses entering the market, integrating leading local wallets like SocialPay and Khan Bank’s digital services is key to reaching consumers and unlocking growth.
*Data is for Codapay in the period of 1st Oct 2024 - 30th Sep 2025
Impact figures
62%
Android users
38%
iOS users
5.5%
Credit & Debit Card ownership
Unknown
App downloads in 2025
Unknown
App revenue (USD) in 2025
Insights
Digital wallets
Mongolia’s highly Android-dominant market limits Apple Pay's effectiveness for enabling online payments.
Cards
Credit & Debit cards have low penetration in-market, accounting for only 6% of Codapay volumes with strong preference for local e-wallets like MonPay and Toki.
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