A FinTech solutions testing center will be established in Kazakhstan with the support of Visa and the National Bank

The National Bank of Kazakhstan and international payment system Visa signed a Memorandum of Cooperation during President Kassym-Jomart Tokayev's visit to Washington. The document was signed by Akylzhan Baimagambetov, Deputy Chairman of the National Bank, and Visa's Head of Government Relations.

Under the agreement, the parties will establish a Center of Competence at the National Payment Corporation. Its task is to test and implement FinTech solutions, including card services using digital assets, as well as to assess their practical benefits for participants in the financial market.

In addition, the National Bank and Visa plan to strengthen the work of the anti-fraud center by applying artificial intelligence technologies to enhance the effectiveness of combating fraud in the financial market.

The initiative aims to develop Kazakhstan's innovative payment infrastructure, improve cybersecurity, and strengthen partnerships with global financial players.

Source: National Bank kz