Starting this June, Kazakhstan will introduce interbank money transfers using phone numbers and cross-bank QR code payments, according to FChain Kazakhstan.
Berik Sholpankulov, Deputy Chairman of the National Bank of Kazakhstan, announced at a recent briefing that the National Payment Corporation is gradually connecting participating banks to the new system. So far, nine banks have signed agreements, including Halyk Bank, Bank CenterCredit, Freedom Bank, Altyn Bank, RBK, Bereke Bank, ForteBank, Home Credit Bank, and Nurbank.
The first phase, launching in June, will enable clients of the following banks to send money using just a phone number:
- Halyk Bank
- Freedom Bank
- Altyn Bank
- RBK
- Home Credit Bank
“This is a technological process that depends heavily on each bank’s readiness. Some have complex IT infrastructures, which can cause delays. However, we aim to fully implement the system by the end of the year,” noted Sholpankulov.