Kaspi Alaqan has confirmed its security and is preparing for launch in Kazakhstan.

Kaspi.kz announced that its new payment service, Kaspi Alaqan, has successfully passed a comprehensive information security audit. The Agency for Regulation and Development of the Financial Market of the Republic of Kazakhstan officially confirmed that the technology meets all requirements established for financial institutions.

In addition to the regulator, the service was tested in the accredited laboratory of the Ministry of Digital Development, Innovations and Aerospace Industry of the Republic of Kazakhstan. Experts verified the security of the network infrastructure, system resilience, data integrity and confidentiality, as well as other critically important elements necessary for the secure operation of the service.

Mikhail Lomtatidze, CEO and co-founder of Kaspi.kz

Kaspi Alaqan allows users to pay for purchases simply by holding their palm near the terminal. The first terminals will appear in Almaty later this year, followed by deployment across Kazakhstan.

Palm-based payment technology is considered one of the most secure: each person has a unique vascular pattern, and verification in Kaspi Alaqan occurs via an individually encrypted digital code generated upon enrollment. Similar solutions are already being actively developed in the United States, China, and Japan, where they were first introduced as early as 2015.

Source: Kaspi.kz