ALMATY ( WNAM MONITORING): The Kazakh National Bank reported robust growth in the country’s digital financial infrastructure from January to June 2025, with daily transactions through its payment systems averaging 6.3 trillion tenge (approximately US$11.67 billion), according to an analytical overview.
The report highlights performance across the National Bank’s payment systems, card and electronic banking services, international money transfers, payment organizations and the remote identification service.
Record growth in payments
Transactions conducted through the National Bank’s payment systems surged 34.3% in volume and 9.2% in value. In total, 54.6 million payments worth 746 trillion tenge (US$1.38 trillion) were processed over the six-month period.
Cashless payments now dominate the market, accounting for 98% of all transactions by number and 87% by value, exceeding 87 trillion tenge (US$161.1 billion). The use of QR codes, particularly for goods and services, has overtaken card transactions, driven by the launch of interbank QR payments earlier this year.
Expanding services and inclusivity
Payment organizations, operating alongside traditional banks, processed 4.6 trillion tenge (US$8.5 billion) in January-June 2025 – a 22% increase. This expansion underscores their growing role in the Kazakh financial ecosystem.
International money transfer systems remain highly popular. The average amounts sent and received have increased steadily over the past three years, rising by 12% and 25%, respectively.
The Remote Identification Service has become a cornerstone of secure digital finance, handling 23.5 million biometric verifications – up 60%. This mechanism enables financial institutions to offer secure remote services to their clients.
Stronger infrastructure for the future
Launched in July 2024, the anti-fraud center has already proven its effectiveness. In one year, it prevented fraudulent transactions worth more than 2.5 billion tenge (US$4.6 million) by enabling financial institutions to block suspicious operations in real time.
Chief Digital Officer of the National Bank Binur Zhalenov emphasized that the country’s digital financial infrastructure growth was supported by the modernization of the RTGS and ACH systems, including ISO implementation and upgraded technological architecture.
“These upgrades strengthened resilience, interoperability, and scalability — essential for handling the rising transaction load across the economy,” Zhalenov wrote on his LinkedIn page.
He also underlined the evolving role of non-bank payment providers.
“We see a shift in market structure. Non-bank payment organizations are playing a more significant role in providing services. It is a clear signal that their place in the ecosystem must evolve — with broader rights but also higher responsibilities,” he wrote.
