Kazakhstan: ATM Withdrawals Hit 6 Trillion Tenge as Cash Usage Grows

Over the past year, Kazakhstanis have begun to use cash more often, reports Orda.kz.

According to analysts from the Association of Financiers of Kazakhstan, in the first quarter of 2025, residents of the country withdrew six trillion tenge from ATMs.

This is 300 million tenge, or 6.6%, more than the same period in 2024. One of the reasons why cash is so popular is the lack of digitalization in remote villages.

The shadow economy, which accounts for 17.5% of GDP, is another probable explanation.

Overall, cash is becoming increasingly popular throughout the country.

Against the backdrop of double-digit growth in cash in circulation (+18% year-on-year), on average, each Kazakhstani now has 211 thousand tenge in cash, compared to 181 thousand a year earlier, AFK notes. 

However, the number of non-cash transactions has also increased compared to last year. Their volume has grown from 33 trillion to 40.3 trillion tenge, and the total share was 87.1% for the first quarter of 2025.

At the same time, payments via QR code remain relatively unpopular (their number increased by only 0.1%).

Analysts believe this method of paying for goods and services will become more popular when a single QR code is fully launched for all banks in Kazakhstan.

Orignal Author: Nikita Drobny