Kazakhstan Cards and Payments: Opportunities and Risks to 2029

The ‘Kazakhstan Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Kazakhstani cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, card, credit transfer, direct debits, and cheques during the review-period (2021-25e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025e-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together the analyst’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

The ‘Kazakhstan Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Kazakhstani cards and payments industry, including:

• Current and forecast values for each market in the Kazakhstani cards and payments industry, including debit, and credit cards.
• Detailed insights into payment instruments including cash, credit transfer, card, cheques and direct debits . It also, includes an overview of the country's key alternative payment instruments.
• Ecommerce market analysis.
• Analysis of various market drivers and regulations governing the Kazakhstani cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit, aand credit cards.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• The competitive landscape of the Kazakhstani cards and payments industry.

Key Highlights

• The IPS was launched by the National Bank of Kazakhstan in June 2022. The service facilitates instant fund transfers between accounts at participating banks and financial institutions in Kazakhstan within seconds. This system allows users to make instant fund transfers 24 hours a day, seven days a week, and 365 days a year. It allows P2P for consumer to business and business to business transfers, as well as mobile numbers and payment by request. The maximum limit for a single transaction is KZT500,000 ($1,090.17). As of February 2025, 12 banks and financial institutions support the IPS.
• To capitalize on this growth, international brands are establishing online storefronts within the country. For instance, in May 2025, the China-based ecommerce platform Tabao launched its platform in Kazakhstan. Similarly, in November 2024, the Chinese ecommerce platforms Temu and Pinduoduo launched their services in the country. In December 2024, the new domestic online shop Teez launched in the country. In June 2024, Kazpost partnered with the Chinese company YTO Express Co, opening warehouses in Almaty, Turkestan, and Aktobe to simplify the process of delivering goods to customers. According to the Digital Kazakhstan Association, ecommerce comprised 12.6% in 2023 (8.2% in 2022) of total retail sales. The number of ecommerce purchases reached 90.2 million in 2023; an increase of 84% from 2022.
• Digital banking is gaining momentum in Kazakhstan. Kaspi’s Super App is one of the most-popular mobile banking apps in Kazakhstan, with an average of 14 million monthly active users. The app enables users to perform multiple types of payments, including in-store and online purchases, bill payments, and P2P transfers. It also allows users to access their bank accounts and apply for loans. This suggests a growing trend for the future of mobile payments, as users increasingly prioritize convenience, efficiency, and security in their transactions. According to Central Bank statistics, 155 million payment transactions-worth KZT1.94 trillion ($4.23 billion)-were carried out in 2024 via internet and cell phone, compared to 108.9 million transactions-worth KZT1.35 trillion ($2.94 billion)-in 2023. This reflects a dynamic and evolving landscape in terms of digital payments.

Scope

• Card market size in terms of number of cards, value and volume of transactions in Kazakhstanalong with detailed card segmentation of debit, credit and charge cards available in the country.
• Market sizing and analysis of major payment instruments including cash, credit transfer, card, cheques and direct debits .
• Payment market trends and growth for both historical and forecast period
• Competitor analysis with detailed insights into leading card issuers and schemes.
• Comprehensive analysis of consumer attitudes and buying preferences for cards.
• A detailed snapshot of country's key alternative payment brands.

Reasons to Buy

• Make strategic business decisions, using top-level historic and forecast market data, related to the Kazakhstani cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Kazakhstani cards and payments industry.
• Assess the competitive dynamics in the Kazakhstani cards and payments industry.
• Gain insights into marketing strategies used for various card types in Kazakhstan.
• Gain insights into key regulations governing the Kazakhstani cards and payments industry.