BAKU, Azerbaijan, Dec. 11
Trend:
The Board of the National Bank adopted the Program for Development of the National Payment System of the Republic of Kazakhstan until 2025 in accordance with the instruction of the president on November 30, head of the National Bank Erbolat Dossaev said, Trend reports referring to Kazinform news agency.
“At the first stage of the program, an instant payment system will be developed and an interbank payment card system will be created in 2021,” head of the bank said.
"The emphasis will be made on new services in 2022-2023,” head of the bank said. “Particular attention will be paid to the transition to the format of the international standard for financial messages ISO 20022, the development of a remote identification service, the formulation of requirements on Open API and Open Banking, improvement of the regulatory framework to support innovations in financial market, issues of harmonization in the EAEU and digital currency."
“The work will be continued to develop the national payment infrastructure and new services in 2024-2025,” Dossaev said.
"Successful implementation of the measures included in the program will lead to a twofold reduction in the costs of non-cash payments, acceleration of payments within the country from two days to 1 minute,” Dossaev said. “The use of non-cash payments will be expanded. The national payment system will eliminate dependence on foreign operators."