The National Bank of Kazakhstan (NBK) has announced that the volumes of payment organizations' operations are showing a dynamic growth trend: in 2023, turnover through payment service providers amounted to 8 trillion tenge, which is 26% higher compared to 2022.
According to the National Bank, there is a concentration of turnover in payment services among individual payment organizations. Significant portion (over 80% of turnover) is accounted for by 15 payment organizations operating in the payment market.
The largest growth in transaction volumes in 2023 was observed in operations initiated by clients using mobile devices and internet resources. Last year, 515 million such operations were conducted through mobile devices and internet resources, totaling 4.87 trillion tenge (a 1.5-fold increase compared to 2022). Regarding operations related to cash acceptance, payment organizations carried out 192 million operations amounting to 2.2 trillion tenge (a 10.9% increase compared to 2022), as stated in a message published on the NBK website on March 15, 2024.
Operations involving electronic money also demonstrate growth. In 2023, transactions amounted to 596.8 billion tenge (a 16% increase compared to 2022).
In the framework of its supervisory functions in 2023, the National Bank of Kazakhstan:
- Excluded 12 payment organizations from the registry based on grounds provided by the current legislation of the Republic of Kazakhstan (submission of false information, systematic violation of legislative requirements, failure to provide payment services, etc.);
- Imposed 144 restrictive measures on payment organizations (delayed submission of reporting forms, submission of incorrect reporting information, failure to conduct annual risk assessments for services/products, etc.). Information on the measures taken is available on the National Bank's website;
- Fined 11 payment organizations a total of over 33 million tenge for violations of reporting requirements and legislation of Kazakhstan on combating money laundering and terrorism financing.
Earlier, the National Bank of Kazakhstan provided a report on international money transfer systems (IMTS).
