Trade & Development Bank of Mongolia goes live with Apple Pay

By Gloria Mathias

Trade & Development Bank of Mongolia (TDBM), the country’s oldest banking and financial services provider, has become the first Mongolian bank to offer Apple Pay in collaboration with Compass Plus Technologies.

This move reinforces the bank’s commitment to delivering high-quality, innovative products and gives TDBM customers a fast, secure, and flexible way to pay. The milestone marks the latest chapter in TDBM’s two-decade-long partnership with Compass Plus Technologies, whose software powers over 80% of the country’s banks.

Following Apple Pay’s announcement of its expansion into Mongolia in early 2024, TDBM acted swiftly. Known for its commitment to innovation and customer-centric services, the bank was determined to lead the way and become the first commercial bank in the country to offer Apple Pay.

Recognising the demand for secure and convenient mobile payment solutions, the bank turned to its trusted partner, Compass Plus Technologies, to add the payment method to its offering. After a successful collaboration, TDBM launched Apple Pay and established itself as a pioneer in the Mongolian mobile payments space.

Chinzorig.D, Head of the Processing Unit, IT Department at Trade & Development Bank of Mongolia, said, “We are dedicated to delivering cutting-edge payment solutions for our customers. Adding Apple Pay to our offering is a vital step forward in enhancing day-to-day convenience for our customers, enabling them to make payments effortlessly on the go. Collaborating with Compass Plus Technologies made the process seamless, enabling us to roll out this feature quickly and efficiently.”

Nikolay Korovin, Sales Account Manager at Compass Plus Technologies, added, “We are excited to support TDBM on their continuous journey in empowering customers with technology solutions. Becoming the first commercial bank in Mongolia to offer customers Apple Pay continues to reflect their commitment to remaining at the forefront of the market. We look forward to working on future innovative projects together.”