The Mongol Bank has signed a Memorandum of Understanding
with Khan Bank and Trade and Development Bank on an integrated payment card
clearing system to come into effect on June 16. Golomt Bank is expected to join
the system by the end of the year. At the end of 2009, the number of card
holders in Mongolia was over 2 million, of which 476,000 were termed active,
indicating that they used their card at least 5 times a month. Some 27% of the
total card holders and 32% of active users reside in rural areas.  Khan Bank and TDB together cover 70% of the
market share in terms of number of transactions.