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Volume of cashless payments in Kazakhstan revealed

Finance Materials 6 March 2020 13:23 (UTC +04:00)
Volume of cashless payments in Kazakhstan revealed

BAKU, Azerbaijan, March 6

By Nargiz Sadikhova - Trend:

The volume of cashless payments and money transfers in national currently (tenge) across the territory of Kazakhstan amounted to 793 trillion tenge ($2.083 trillion) in 2019, Trend reports with reference to the data of Kazakhstan’s National Bank.

Ninety-six percent of the total volume were carried out via payment systems of the National Bank. Thus, 41.6 million transactions worth 762 trillion tenge ($2.002 trillion) were implemented via the payment systems of the National Bank.

The average daily number of transactions via payment systems was 169,300 payments worth 3.1 trillion tenge ($8.1 billion).

“The efficiency factor of the payment systems of the National Bank in 2019 amounted to 99.99 percent. This exceeds the established targets and characterizes the high efficiency of national payment systems functioning,” the bank noted.

The number of money transfers implemented via international money transfer systems in Kazakhstan in January 2020 amounted to 0.2 million transfers worth 43.5 billion tenge ($114.9 billion), which is 8.2 percent more than in January 2019.

Some 18.1 percent of the volume and 8.6 percent of the transfers’ value accounted for transfers all across Kazakhstan (0.04 million transfers worth 3.7 billion tenge or $9.7 million).

The volume of operations performed via plastic cards of Kazakh issuers in Jan. 2020 amounted to 167.3 million transactions worth 2.8 trillion tenge ($7.4 billion), which is 75.4 percent more than in Jan. 2019.

Share of cashless transactions in the total volume of the operations using cards of Kazakh issuers increased to 85.1 percent in the volume compared to 69.7 percent in Jan. 2019, and to 59.3 percent in the value compared to 35.1 percent in Jan. 2019.

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