Unified QR Pilot Project Launched in Kazakhstan
On November 15, Kazakhstan officially announced the launch of a pilot project to implement interbank QR payments, Orda.kz reports.
The regulator and the National Payment Corporation launched the interbank QR project at the Congress of Financiers of Kazakhstan in Almaty. The first transaction was carried out at the event.
The service will become part of the national digital financial infrastructure.
The introduction of interbank QR payments will enable businesses to reduce the costs of installing several terminals from different banks, and citizens to pay using a QR code through a terminal of any bank in the country. Banks will be able to optimize costs by reducing the cost of processing interbank transactions and expand payment services for clients, the National Bank noted.
Second-tier banks are now gradually being integrated, and the project is expected to be launched on a full scale in 2025.
The National Bank head, Timur Suleimenov, announced the appearance of interbank QR payments back in September. He says, "Work is now in full swing" to implement this system.
Original Author: Nikita Drobny
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