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Money transfers volume surges in Kazakhstan month-on-month

Finance Materials 9 October 2020 10:22 (UTC +04:00)
Money transfers volume surges in Kazakhstan month-on-month

BAKU, Azerbaijan, Oct. 9

By Nargiz Sadikhova - Trend:

A total of 4.5 million transfers worth 47.2 trillion tenge ($100.2 billion) were made via services of Kazakhstan National Bank's payment systems in Aug. 2020, Trend reports with reference to the data of the bank.

This is 9.5 percent more in volume and 17.2 percent less in value compared to July 2020.

On average, 226,800 transactions worth 2.4 trillion tenge ($5.6 billion) were carried out daily.

The volume of plastic cards issued in Kazakhstan amounted to 42.7 million cards as of Sept. 1, 2020, and 57 percent on them were used in Aug. 2020.

The volume of transactions via plastic cards of Kazakh issuers amounted to 307.8 million transactions worth 4.8 trillion tenge ($11.2 billion) in Aug. 2020, which means an increase by 14.4 percent in volume and by 10.4 percent in value compared to July 2020.

In turn, the share of non-cash payments in total structure of operations via plastic cards of Kazakh issuers amounted to 91.9 percent in Aug. 2020 compared to 91 percent in volume, and to 69.9 percent compared to 68.4 percent by value in July 2020.

Furthermore, the total volume of funds sent via international systems of money transfers amounted to 0.3 million transfers worth 82.3 billion ($192.1 million) in Aug. 2020, which is 17.2 percent more in value compared to July 2020.

Out of the total volume of transfers, 82.3 percent (0.2 million) of total volume or 95.1 percent of total value (78.3 billion tenge or $182.8 million) accounted for transfers from Kazakhstan to other countries.

Some 17.7 percent of total volume (0.05 million) and 4.9 percent of total value (4 billion tenge or $9.3 million) accounted for transfers in Kazakhstan. The remaining 0.1 million transfers worth 24.7 billion tenge ($57.6 million) accounted for transfers from other countries to Kazakhstan.

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