National Payment System to Foster Easier Access to Financial Markets, Pave Way For Digital Tenge

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NUR-SULTAN – The National Bank of Kazakhstan is currently developing a national payment system that is part of an effort to ensure the equally accessible digital infrastructure of the financial market and make financial services and transfers faster and cheaper, said National Bank Chair Yerbolat Dossayev. The pilot project is expected to be launched in December. 

National Bank of Kazakhstan building.

The idea to develop the national payment system voiced first by President Kassym-Jomart Tokayev in January 2020 comes at a time when Kazakhstan witnesses significant progress in digitization that encourages increased use of credit cards among citizens.  

“In many ways, Kazakhstan is moving at the forefront development of the digital agenda of the financial industry. Under the influence of digital services, we have seen significant growth in non-cash payments in the country. For example, within five years, the volume of non-cash payments has grown…

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