New Era for Payments in Kazakhstan: Cross-Bank Phone Number Transfers and QR Transactions Begin - FChain

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.

Currently, QR payments are only processed within a single bank’s ecosystem. The upcoming update will allow users to pay via QR code at any terminal, regardless of which bank issued it. “It will work seamlessly through your mobile banking app. For example, if you’re a client of Bank A, you’ll be able to scan and pay at a terminal from Bank B,” explained Sholpankulov.

Regarding service fees, Sholpankulov clarified that pricing remains market-driven. “The commissions support costly infrastructure and servers. These are not regulated by us directly. Due to competition, fees tend to decrease. The unified QR payment system will follow the same trend, but it doesn’t guarantee that all QR payments will be free. For consumers, though, the service will remain free, as it is now.”

Article is prepared by Director

of FChain Kazakhstan

Ekaterina Kassumova

23.05.2025