Cashless Payments in Kazakhstan Exceed 85% in 2024
Kazakhstan's cashless payment transactions surged to over 85% in 2024, according to the National Bank’s annual report on the development of digital financial infrastructure, published on Jan. 27.
Active payment cards saw an 8% increase, reaching 39.3 million in the first half of 2024. The number of POS terminals rose by 25%, totaling 1.16 million units, while ATMs dedicated solely to cash dispensing declined by 15.2%, falling to 4,500.
The National Bank credits this growth largely to the rise in online banking, which was accelerated by the Covid-19 pandemic. Over 70% of Kazakhstan’s economically active population now uses online banking, a jump of 4.6 times over the past five years, amounting to 23.3 million users. Additionally, the e-commerce sector has seen significant growth, with transactions increasing 4.3 times between 2019 and 2023, and the average transaction value rising 1.5 times to 28,551 tenge (US$55.3).
