New trend of cashless payment – mobile transactions

People in Kazakhstan are switching to mobile payments. In the country, as in the rest of the world, mobile finance has become one of the current market trends. 83 percent of all payments in the country were made online through mobile applications. That is, not only cash payments, but also payments by cards are losing their relevance, reported the Finprom analytical platform. In just one year, the amount of transactions through mobile phones and the Internet increased 2.5 times. Since the beginning of the year, the volume of online payments has reached 29.5 trillion tenge. The coronavirus pandemic and the need to maintain social distance only accelerated the process. According to experts, most users who pay for goods and services via mobile payments live in Aktobe and Zhambyl regions, and Shymkent city. Subscribers of all domestic mobile operators can manage their money using a smartphone. By July of this year, there were 16 million mobile phone subscribers in the country with access to the Internet. During the year, their number increased by almost 7 percent. This dynamic is growing yearly.


Translation by Saniya Sakenova

Editing by Galiya Khassenkhanova