Kazakhstan's Kcell ending OGO payments system collaboration with Jusan Bank, will develop these services with another bank

ASTANA. April 15 (Interfax) - Kazakh mobile operator Kcell will end its cooperation with First Heartland Jusan Bank, operating under the Jusan Bank brand, in the framework of the joint OGO payment system by the end of this month.

The operator will continue to develop payment services in partnership with another bank.

"We intend to continue this. As business partners we [Kcell and Jusan Bank] do not have the opportunity [to continue cooperation], [there's a] divergence of interests. Yes, we continue to work with Jusan Bank until the end of April, our [collaboration] with Jusan Bank will officially end in late April. In parallel, we are negotiating with another bank, and in the near future you will find out who our partner in mobile financial services will be," Kell's CCO, Kazbek Shaimov, said during the Issuer's Day event at the Kazakhstan Stock Exchange (KASE).

The OGO service's monthly active users (MAU) grew 37% in 2024. Shaimov said this result was "quite good."

The growth was achieved due to additions to the list of payments in the gaming category, OGO Card transactions, loan issuance and lotteries, the mobile operator said in a presentation.

Kcell and Jusan Bank, aided by Mastercard, launched OGO banking services in Kcell mobile apps in 2021. The mobile operator's users can access the services provided by Jusan Bank.

Jusan Bank is a shareholder of Kcell, with a 9.06% stake. Another 14.87% of the operator's shares are controlled by businessman Galimzhan Yesenov, the majority owner of Jusan Bank.