Pilot project for interbank QR payments launched in Kazakhstan

The National Bank of Kazakhstan and National Payment Corporation have launched a pilot project for interbank QR payments, the National Bank said.

The first transaction took place on November 15 during the Kazakhstan Financiers Congress in Almaty, with participation from two second-tier banks.

The interbank QR payment service is a key component of the National Digital Financial Infrastructure, allowing citizens to make fast and convenient payments. This service will help businesses reduce costs by eliminating the need for multiple terminals from different banks, while enabling citizens to make payments via QR codes at terminals from any bank in the country.

Additionally, banks will benefit from optimized costs by lowering interbank transaction processing fees and expanding payment services for their customers within the NDFI framework.

The interbank QR payment system is ready to operate, and banks are being gradually connected to the system. The project is set to be scaled up in 2025.