In Kazakhstan, QR code payments have surpassed POS terminal payments

The most common method of using payment cards is cashless payments. Their volume is growing at a high rate year after year. By the end of last year, 11.3 billion cashless transactions were made in the country, totaling 141.9 trillion tenge, with an annual growth of 36.7%.

The most popular option among Kazakhstani residents for making cashless transactions is through the internet and mobile banking. Last year, citizens of Kazakhstan conducted approximately 24.1 million transactions daily via digital banking, amounting to more than 344.5 billion tenge.

In total, over the first two months of the current year, the volume of cashless payments in Kazakhstan reached 21.1 trillion tenge, which is 17.1% higher than in the same period last year.

At the same time, the largest share of cashless payments—79% or 16.7 trillion tenge—is accounted for by online payments via the internet and mobile banking.

Meanwhile, an interesting situation has emerged: by the number of payments in the first two months of 2024, QR code payments took second place, with 416.1 million transactions totaling 2.1 trillion tenge. Through POS terminals, 367.3 million transactions were conducted, amounting to 2.3 trillion tenge. Thus, QR code payments have surpassed POS terminal payments for the first time.

Source: ranking.kz