Kazakhstan to launch QR payment system in 2025, all banks to join next year

ASTANA. May 22 (Interfax) - The National Bank of Kazakhstan, in collaboration with several commercial banks, plans to launch a QR payment system in before the end of 2025; all banks in the country will join the system next year, said Binur Zhalenov, advisor to the chairman of the National Bank.

"Freedom Bank and RBK Bank have already completed their preparations, and four other second-tier banks, including Halyk Bank, are actively working on the project. We expect the new system to be fully operational, with a number of banks participating in it, by the end of this year," Zhalenov told a Thursday briefing.

The National Bank has proposed amendments under the new banking law, making it mandatory for all banks to join this system. Starting next year, every bank will be required to participate in the system and accept QR payments, he added.

The QR payment system will be launched in August, according to slides accompanying Zhalenov's report.

The National Bank and the National Payment Corporation (NPC) initiated a pilot project for interbank QR payments in November 2024. The full-scale rollout was scheduled for 2025.