Kazakh people more often turn to non-cash payments

Baku, Azerbaijan, May 6

Trend:

In March 2019, the sum of non-cash payments amounted to 777.2 billion tenge with an increase of 2.2 times compared to the same period of last year and with an increase of 25.9 percent compared to February 2019, Trend reports via Financial Institutions’ Association of Kazakhstan.

The ratio of non-cash payments to cash withdrawal at ATMs reached 65 percent in February 2019 (the 100 percent indicator means that the number of non-cash payments equals the number of cash withdrawals ATMs).

Furthermore, the percentage of non-cash transactions (both non-cash payments and cash withdrawals) out of the total volume of banking transactions increased up to 39 percent.

The average sum of non-cash payments decreased in March and amounted to 9,809 tenge (10,239 tenge in February), whereas the average sum of cash withdrawal equals 42,014 tenge (45,929 in February).

Some 60 percent of the non-cash payments made within the territory of Kazakhstan account for the online payments, whereas some 38 percent account for the POS terminal payments. Still, in the last 12 months the percentage of the POS terminal transactions decreased by 9 percent in the total volume of banking transactions.

“As of April 1, 2019, the issuing of cards is performed by 22 banks and Kazpost JSC. These organizations issue cards of international payment systems such as VISA International, MasterCard Worldwide, UnionPay International, American Express International and Diners Club International. Furthermore, banks of Kazakhstan issue cards of local payment systems such as Altyn Card of National Bank of Kazakhstan and local card of Citibank Kazakhstan,” the report said.

“By that date, some 24.4 million of payment cards were in the circulation, whereas the number of card owners amounted to 21.2 million people. Debit cards prove to be most popular, their percentage equals to 75.6 percent out of total volume of cards, whereas the total volume of credit cards amounts to 20.8 percent. Debit cards with credit limit and prepaid cards amount to 2 and 1.6 percent respectively," reads the report.

"In March 2019, the total sum of transactions using payment cards of Kazakh issuers amounted to 2,098.6 billion tenge (an increase of 47.1 percent compared to March 2018)," the statement said.

A number of transactions in March 2019 amounted to 111.8 million, which is an increase of 97.7 percent compared to March 2018. Furthermore, a number of non-cash payments increased 2.4 times and the increase of total sum of the non-cash payments equaled to 112.1 percent.

The major part of the non-cash payments accounts for POS terminal and online/mobile banking payments. The cash withdrawal was mostly performed through ATMs.

Subscribe to Trend in Google News! Subscribe
Spanish police march in Madrid to protest against 'Gag Law' reform
Spanish police march in Madrid to protest against 'Gag Law' reform
Storm Arwen: Third person dies as gale-force winds hit UK
Storm Arwen: Third person dies as gale-force winds hit UK
Two workers die in accident preparing Spanish stadium for cup game
Two workers die in accident preparing Spanish stadium for cup game
Loading Bars
Latest
President Ilham Aliyev takes part in official dinner in honor of participants of 15th Summit of Economic Cooperation Organization
Over 60% of adult population in country received two shots - Azerbaijani president
Finalists in individual trampoline among women announced
Iran fully supports the ECO
Iran seeks to promote ties with Turkmenistan - Iranian President
Azerbaijani servicemen suffer in mine explosion in Fuzuli district
Problem loans in Azerbaijani banks decrease for year
28th FIG Trampoline Gymnastics World Age Group Competitions continue in Baku (PHOTO)
Number of client accounts in Azerbaijani banks increases
Turkey discloses volume of cargo transshipped via Zonguldak port in 9M2021
Iran eyes increase in exports via customs of Markazi Province
Finalists in individual trampoline among men announced at 28th FIG World Age Group Competitions in Baku
Close relations between Iran, Azerbaijan, Turkey are important – Iranian President
Presidents of Kyrgyzstan, Turkmenistan discuss current areas of bilateral relations
Azerbaijan provided financial and humanitarian assistance to about 80 countries to support their fight against coronavirus - President Ilham Aliyev
Azerbaijan to allocate at least $1.3 billion for building new cities and towns in liberated territories in 2022 - President Ilham Aliyev
Our strategic foreign exchange reserves exceed our state external debt by over six times - President Ilham Aliyev
Over past 18 years, economy of Azerbaijan developed rapidly - President Ilham Aliyev
Finalists in double mini trampoline among women announced at 28th FIG World Age Group Competitions in Baku
Today I can say that Zangazur corridor becomes reality - President Aliyev (FULL SPEECH)
Confident that ECO Member States will benefit from Zangazur corridor - President Ilham Aliyev
Azerbaijan achieved favourable investment climate as result of large-scale reforms - President Ilham Aliyev
Finalists in tumbling among men announced at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku
Australia confirms two cases of Omicron COVID-19 variant
Zangazur Corridor to contribute to economic development of region - Turkish FM
President Ilham Aliyev participating in 15th Summit of Heads of ECO member-states in Turkmenistan (PHOTO/VIDEO)
Azerbaijani Defense Ministry presents weekly review (VIDEO)
Final day of 28th FIG Trampoline Gymnastics World Age Group Competitions starts at National Gymnastics Arena in Baku (PHOTO)
President of Azerbaijan Ilham Aliyev arrives in Turkmenistan for visit (PHOTO)
Azerbaijani, Iranian FMs meet at Economic Cooperation Council's meeting in Ashgabat
Georgia imposes new regulations for citizens from 8 countries
Turkey, Turkmenistan sign deals, strengthen ties in Erdoğan's visit
Indonesia bans arrivals from 8 African countries to curb Omicron variant
Volume of goods loaded/unloaded in Iranian ports up
Azerbaijan’s 10M2021 volume of loans issued to energy, chemistry and natural resources decreases
Kyrgyz president leaves for Turkmenistan for working visit
Kyrgyzstan adds 41 fresh COVID-19 cases
Access to finance remains major challenge for small businesses in Georgia - IFC
847 more COVID-19 cases reported in Kazakhstan
Parliamentary elections begin in Kyrgyzstan
Cooperation with regional countries, Iran’s top priority - İranian president
Spanish police march in Madrid to protest against 'Gag Law' reform
Storm Arwen: Third person dies as gale-force winds hit UK
U.S. imposes travel ban from eight African countries over Omicron variant
Israel to ban entry of foreigners from all countries over Omicron
Saudi Arabia allows entry of all travelers who received one dose of COVID-19 vaccine
Two workers die in accident preparing Spanish stadium for cup game
Iran's Energy Exchange announces products to be on sale on November 28
UK, Germany and Italy detect Omicron coronavirus variant cases
Results of Sochi summit fully reflect position of Azerbaijan - Russian expert
Awarding ceremony third day held as part of 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku (PHOTOS)
Winners in synchronized trampoline jumping at 28th FIG Trampoline Gymnastics World Age Group Competitions in Baku determined
Baku names winners of World Age Group Competitions in jumping on double mini-trampoline for men
28th FIG Trampoline Gymnastics World Age Group Competitions: Russian gymnast takes first place in tumbling
Baku names winners of World Age Group Competitions in jumping on double mini-trampoline for women
Azercell announces contest on social network
Gymnast from Kazakhstan win gold in acrobatic jumping at 28th FIG Trampoline Gymnastics World Age Group Competitions
Best moments of third day of the World Age Group Competitions in Trampoline Gymnastics and Tumbling in Baku (PHOTOS)
World age group competition in Baku - Russian gymnast wins first place in individual trampoline jumping
Russian gymnast wins gold in individual trampoline jumping in Baku
Turkmenistan boosts imports of electrical goods from Turkey
Turkmenistan agrees to participate in Lapis-Lazuli project
Smoking to be banned in taxis in Georgia
Iran’s Bahar Azadi gold coin price rebounds
11,358 people received COVID-19 vaccine in Kyrgyzstan over past day
Prepared hard for the 28th World Competition in Baku - athlete from Denmark
Finalists in synchronized trampoline jumping among men and women announced at 28th FIG World Age Group Competitions in Baku
Finalists in individual trampoline jumping among men announced at 28th FIG World Age Group Competitions in Baku
Azerbaijan expects mutual steps from Armenia towards achieving peace - FM
Azerbaijani, Turkish FMs meet at Economic Cooperation Council's meeting in Ashgabat
Phone conversation held between Presidents of Azerbaijan and Belarus
Azerbaijan shares data on number of vaccinated citizens
Azerbaijan confirms 1,617 more COVID-19 cases, 1,979 recoveries
ECO Council of FMs supports Azerbaijan's proposal to establish Clean Energy Center (PHOTO)
Buy/sell operations at Iran Mercantile Exchange revealed
Finalists in double mini-trampoline jumping among men announced at 28th FIG World Age Group Competitions in Baku
Finalists in acrobatic jumping among men named at 28th FIG World Age Group Competitions in Baku
Azerbaijani gymnast Seljan Mahsudova reaches finals of World Age Group competition
Kazakhstani Astana- Motors to produce Hyundai cars in Uzbekistan
Iran reveals COVID-19 data for November 27
Finalists in acrobatic jumping among women announced at 28th FIG World Age Group Competitions in Baku
Novavax developing vaccine that targets new COVID-19 variant
Eni sells some stakes to Snam
28th FIG Trampoline Gymnastics World Age Group Competitions underway in Baku (PHOTOS)
Azerbaijan reveals financing of pensions, benefits for 9M2021
Turkish company to organize cotton-textile cluster in Uzbekistan
Finalists in double mini-trampoline among women announced at 28th FIG World Age Group Competitions in Baku
Georgia’s imports from Turkmenistan triple
Coach set goal to enter top three in individual trampoline jumping - Russian gymnast
Uzbek National Bank to issue its bonds on Russian Exchange
33,946 new Covid cases registered in Russia in 24 hours
Georgia to replace damaged buildings – Mayor of Tbilisi
Meeting in Sochi - new step towards sustainable peace in South Caucasus - Turkey's presidential administration
Turkey's cargo traffic via its Gulluk port for 9M2021 revealed
GUAM shares reviews of results of Georgia's presidency
Uzbekistan to sell shares of its two banks to Russian banks
EBRD to support green innovation in Uzbekistan
Turkmenistan's On Dogan to scale up production of vegetables, melons
Turkey shares data on cargo shipment via its ports from Greece for 9M2021
Azerbaijan limits import of poultry products from number of countries
All news