Share of non-cash online payments in Kazakhstan increases

Finance Materials 5 February 2019 15:58 (UTC +04:00)

Baku, Azerbaijan, Feb. 5

By Leman Zeynalova – Trend:

The volume of non-cash payments via payment cards used in Kazakhstan during 2018 increased 2.1 times when compared to the figures from 2017, amounting to 5.5 trillion Kazakhstan tenges (KZT), Trend reports citing the Association of Financiers of Kazakhstan.

As noted, in December 2018, the volume of non-cash payments by card throughout Kazakhstan amounted to 686.4 billion KZT, of which 455.5 billion tenge, or 66.4 percent, were for the City of Almaty alone.

“Meanwhile, the total volume of non-cash payments in Kazakhstan for the whole of 2018 amounted to 5,473.9 billion KZT, of which 3,509.6 billion KZT (64.1 percent) accounted for Almaty. Also, the volume of card transactions in 2018 increased by 2.1 times or by 2,865.7 billion KZT when compared to 2017, including 2,035.3 billion KZT (71.0 percent increase) in Almaty,” the report reads.

The Association of Financiers of Kazakhstan also notes an increase in the share of internet payments in the overall structure of cash-free payments via payment cards.

Over the past year, this share increased from 47 percent to 59 percent. During this time, the number of online transactions doubled, while the average order value went up by 17.6 percent.

As noted, the number of cards in circulation over the past 12 months went up by 20.5 percent, amounting to 23.4 million cards.

The number of card holders as of January 1 of the current year was 19 million holders (+11.6 percent in 12 months). The number of POS-terminals on the reporting date stands at 135.8 thousand terminals (+7.2 percent), while the number of trading enterprises increased to 82,527 enterprises (+4.9 percent) over the year.