Mobifinance NBFI LLC, Mobicom Group wins at Asian Telecom Awards 2026
The Mongolian financial platform earns recognition for expanding access to digital payments and lending services.
Mobifinance NBFI LLC, Mobicom Group won Mobile App of the Year - Mongolia in the Asian Telecom Awards 2026, marking a milestone in its efforts to widen access to mobile financial services across the country.
Over the past 24 months, Monpay recorded steady growth in both usage and reach as demand for faster and more accessible digital financial tools increased in Mongolia. The platform’s user base rose from 1.6 million to 2.1 million, whilst monthly total transactions increased by 90%. At the same time, its merchant network expanded to 7,343 partners, reflecting wider acceptance amongst businesses and consumers.
Before Monpay’s expansion, many users faced limited digital payment options, slow verification processes, and challenges when applying for traditional bank loans due to extensive documentation and long waiting periods. In response, the company repositioned Monpay beyond basic payments and developed it into a broader lifestyle platform that supports daily transactions and financial access through mobile devices.
As a licensed NBFI and the country’s first electronic money service under the Electronic Money Issuance framework, Monpay expanded its digital lending services to include short- and long-term loans, buy now, pay later options, purchase loans, leasing solutions, and high-value consumer loans. These services rely on a credit-scoring model that allows customers to access financing within three seconds using their smartphones. Over two years, loan issuance exceeded 6.5 million, whilst the loan portfolio grew fourfold.
In addition to lending, the platform introduced virtual Visa and UnionPay cards for instant issuance and online payments. It also launched the Aww d-commerce platform, offering an integrated digital shopping experience linked to fintech services. Public transport, parking, and electricity payments were added through U-Money integration, alongside Kids Accounts designed to support family use cases. Full ACH and QR-standard integration further strengthened national interoperability.
These developments led to a 50% increase in active monthly transactions and over 60% growth in monthly active user interactions across services. Monpay also strengthened platform security through full-KYC onboarding, compliance frameworks, risk management procedures, and fraud-detection technology.
Beyond commercial results, Monpay supported social initiatives, including enabling users to contribute to UNICEF Mongolia’s clean drinking water programmes for schoolchildren, reinforcing its role in everyday life across communities.
The Asian Telecom Awards is a premier awards programme that recognises telecom companies across the Asia Pacific for their contributions to industry advancement, technological innovation, and digital infrastructure development.
The Asian Telecom Awards is presented by Asian Telecom Magazine. To view the full list of winners, click here. If you want to join the 2027 awards programme and be acclaimed for delivering cutting-edge, award-winning telco products and services to customers, please contact Julie Anne Nunez - Difuntorum at +(65) 3158 1386 ext. 242. You may also reach out via [email protected].
