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Kazakhstan sees increase in non-cash payments

Finance Materials 1 April 2022 17:52 (UTC +04:00)
Kazakhstan sees increase in non-cash payments
Nargiz Sadikhova
Nargiz Sadikhova
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BAKU, Azerbaijan, April 1. A total of 5.7 million transfers worth 56.3 trillion tenge ($122.9 billion) were made via services of Kazakhstan National Bank's payment systems in February 2022, Trend reports with reference to the data of the bank.

This is 35.8 percent more in volume and 7.1 percent more in value compared to January 2022. On average, 284,200 transactions worth 2.8 trillion tenge ($6.1 billion) were carried out daily.

The volume of plastic cards issued in Kazakhstan amounted to 56.9 million cards as of March 1, 2022, and 51.2 percent of them were used in February 2022.

The volume of transactions via plastic cards of Kazakh issuers amounted to 600.2 million transactions worth 8.5 trillion tenge ($18.5 billion) in February 2022, which means an increase of 31.5 percent in volume and by 26.8 percent in value, compared to January 2022.

The share of plastic cards of Kazakh issuers in the overall number of non-cash transactions stood at 96.8 percent (580.9 million transactions) of the overall number and 81.2 percent (8.2 trillion tenge or $17.9 billion) of the value.

Furthermore, the total volume of funds sent via international systems of money transfers amounted to 0.2 million transfers worth 69.4 billion ($151.5 million) in February 2022, which is 36.6 percent more in value compared to January 2022.

Out of the total volume of transfers, 72.6 percent of total volume or 90.4 percent of total value (62.8 billion tenge or $137.1 million) accounted for transfers from Kazakhstan to other countries.

Some 27.4 percent of total volume (0.1 million) and 9.6 percent of total value (6.6 billion tenge or $14.4 million) accounted for transfers in Kazakhstan.

The remaining 0.1 million transfers worth 18 billion tenge ($39.3 million) accounted for transfers from other countries to Kazakhstan.

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