Kazakhstan Cards and Payments – Opportunities and Risks to 2027

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Kazakhstan Cards and Payments Market Overview

The Kazakhstan cards and payments market size is $302.8 billion in 2023. The market is expected to achieve a CAGR of more than 17% during 2023-2027. Consumers are increasingly adopting electronic payments, thanks in part to the government’s financial inclusion initiatives. Payment cards are the preferred method of electronic payment in Kazakhstan in 2023e.

Kazakhstan Cards and Payments Market Outlook, 2023-2027 ($ Billion)

Kazakhstan Cards and Payments Market Outlook, 2023-2027 ($ Billion)

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The Kazakhstan cards and payments market research report provides a detailed analysis of market trends in the Kazakhstan cards and payments industry. It provides values and volumes for several key performance indicators in the industry cards, credit transfers, direct debits, and cheques during the review period. 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. It also offers information on the country’s competitive landscape, including market shares of issuers and schemes. The report also covers details of regulatory policy and recent changes in the regulatory structure. It includes information on the payment instruments that are in use in the Kazakhstan market, the key segments within the market, as well as the companies associated with the Kazakhstan cards and payments market.

Market Size (2023) $302.8 billion
CAGR (2023-2027) >17%
Forecast Period 2023-2027
Historical Period 2019-2022
Key Payment Instruments ·       Cards

·       Credit Transfers

·       Direct Debits

·       Cheques

Key Segments ·       Card-Based Payments

·       E-commerce Payments

·       Alternative Payments

Leading Players ·       PayPal

·       Apple Pay

·       Samsung Pay

·       Visa

·       Mastercard

·       China UnionPay

·       Jusan bank

·       ATF Bank

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Kazakhstan Cards and Payments Market Dynamics

Improved banking infrastructure and the rising acceptance of payment cards at merchant outlets have contributed to the growth of payment cards. Going forward, e-commerce growth, the adoption of contactless payments, and the emergence of digital-only banks will drive electronic payments in the country.

To further promote electronic payments, the government launched the Instant Payment System (IPS), enabling consumers to make fund transfers within seconds. Meanwhile, the availability of alternative payment solutions such as Google Pay, Apple Pay, and Samsung Pay – as well as innovative concepts such as self-checkout stores – will increase the adoption of electronic payments. However, soaring inflation, economic instability, and geopolitical uncertainty pose challenges to the cards and payments industry.

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Kazakhstan Cards and Payments Market Segmentation by Payment Instruments

The key payment instruments in the Kazakhstan cards and payments market are cards, credit transfers, direct debits, and cheques. Credit transfers is leading in the market in 2023, in terms of value.

Credit transfers are primarily used by organizations to pay salaries, wages, and pensions. Large-value transactions are processed by the Interbank System of Money Transfer, while low-value payments of up to KZT5 million are processed by the Interbank Clearing System.

Kazakhstan Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

Kazakhstan Cards and Payments Market Analysis by Payment Instruments, 2023 (%)

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Kazakhstan Cards and Payments Market Segments

The key segments in the Kazakhstan cards and payments market are card-based payments, e-commerce payments, and alternative payments.

E-commerce Payments: The e-commerce market in Kazakhstan rose in 2023e. This growth was mainly due to rising internet and smartphone penetration, coupled with increasing consumer confidence in online shopping. For instance, to encourage the shift towards online purchasing, in September 2022, Mastercard partnered with the Ministry of Trade and Integration to conduct educational webinars for SMEs on digital marketing and electronic payments.

Kazakhstan Cards and Payments Market - Competitive Landscape

Some of the leading players in the Kazakhstan cards and payments market are PayPal, Apple Pay, Samsung Pay, Visa, Mastercard, China UnionPay, Jusan Bank, and ATF Bank among others.

Kazakhstan Cards and Payments Market Analysis by Players, 2023

Kazakhstan Cards and Payments Market Analysis by Players, 2023

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Segments Covered in the Report

Kazakhstan Cards and Payments Instruments Outlook (Value, $ Billion, 2019-2027)

  • Cards
  • Credit Transfers
  • Direct Debits
  • Cheques

Kazakhstan Cards and Payments Market Segments Outlook (Value, $ Billion, 2019-2027)

  • Card-Based Payments
  • E-commerce Payments
  • Alternative Payments

Scope

This 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 cards, credit transfers, direct debits, and cheques. It also includes an overview of the country’s key alternative payment instruments.
  • E-commerce 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 and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Kazakhstani cards and payments industry.

Reasons to Buy

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

Halyk Bank
Jusan Bank
Eurasian Bank
Bank Center Credit
Forte Bank
Kazpost
ATF Bank
Kaspi Bank
China UnionPay
American Express
Visa
Mastercard
PayPal
Apple Pay
Samsung Pay
Google Pay
QIWI Wallet
Eurasian Pay

Table of Contents

Market Overview

Payment Instruments

Card-Based Payments

Ecommerce Payments

Alternative Payments

Payment Innovations

Job Analysis

Payment Infrastructure and Regulation

Appendix

Frequently asked questions

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