deputy ceo, high payment solutions
He started his career as a software developer at the largest banks, such as Zoos bank. He has 16 years of continuous experience in banking information technology, including Arig Bank and State Bank. Recognized in the industry and successfully initiated and implemented large projects.
Saikhanjargal was invited by B. Naranbat and M. Tsolmon to work at “High Payment Solutions” LLC. Currently, he is working as the executive director of “High Payment Solutions” LLC.
High Payment Solutions” LLC is a company that has received four major approvals from the Bank of Mongolia. Specifically, in 2018-2019, a data center connected to the Bank of Mongolia via fiber optic cable was established. On October 24, 2019, it received the “Card Acceptor” special license from the Bank of Mongolia, making it the only fintech company with this special license in addition to commercial banks. Also, in 2020, it was connected to the automatic clearing house system for low-value payments. In 2021, the Bank of Mongolia received a special license to issue electronic money. It became the only fintech company connected to the Bank of Mongolia via fiber optic cable.
“High Payment Solutions” LLC has undergone an offsite and onsite audit by “ROCK PTE” LTD located in Singapore, and has the advantage of meeting PCI DSS 3.2.1 or payment information security standards with 6 groups, 12 main principles, and more than 200 sub-requirements.
“High Payment Solutions” LLC has enabled more than 270,000 users to quickly receive daily services from their mobile phones. The fact that the bus “U money” card can be recharged anywhere, anytime, has encouraged the acquisition of thousands of users.
Hipay wallet with a complete, reliable and ecosystem of electronic payments includes the services of subsidiaries of “Mongolian Fintech Group” JSC. For example, there are many services such as Hi-Insurance, Stocklab securities, Hicharge, Megaball, Sendly an international money transfer, Airly air quality information, etc., many more will be established in upcoming years.
In 2023, “High Payment Solutions” LLC plans to become a public joint-stock company and issue shares on the Mongolian Stock Exchange.
High Payment Solutions LLC, a payment system developer, fintech business that combines traditional financial services with technology, was founded in 2017 and managed to develop the ecosystem payment in Mongolia. In a short time, the company has become a reliable partner of more than 270,000 users. We also cooperated with “ACI WORLD WIDE”, a technology supplier of the world’s best 19 banks to receive, store, and provide security standards for customer card information, and introduced the “E-commerce Payment Gateway” payment system for the first time in Mongolia, providing the opportunity to make payments that meet world standards. This service is used by more than 270,000 users through the “Hi Pay Wallet” application. Also, “High Payment Solutions” LLC is the only fintech company connected to the Bank of Mongolia via fiber optic cable. On October 24th, 2019, it received a “Card Acceptor” special license from the Bank of Mongolia, making it the only fintech company with this special license, apart from commercial banks.
HiPay, The app provides its domestic customers with seven types of more than 20 services which are easily, safely, quickly, with bonuses and incentives. Through the app, you can receive loan, insurance, and brokerage services.
