New participants have joined the phone number transfer system. Now, clients of 12 banks can transfer money between banks without entering account details—simply by selecting a contact in their phone book.
What happened
The National Payment Corporation of Kazakhstan (NPCK) has expanded the list of participants in the Interbank Mobile Payment System (IMPS). The system now includes 12 banks, including Bank CenterCredit, Freedom Bank, Halyk Bank, Bereke Bank, Bank RBK, Altyn Bank, Home Credit Bank, Forte Bank, KMF Bank, Alatau City Bank, Eurasian Bank, and Nurbank.
The system allows transferring money between banks by phone number via mobile apps. Clients do not need to remember account details—they just select the recipient from their contacts and confirm the transaction.
Country and market
IMPS is part of Kazakhstan’s National Digital Financial Infrastructure. The system acts as a technological bridge between banks’ mobile apps, ensuring interoperability and instant exchange of payment information.
According to NPCK Chairwoman Zhanar Samayeva, the system’s development is part of the strategy to create a technologically independent payment infrastructure for the country. Since its launch, there has been steady growth in the volume of interbank transfers by phone number.
Why it matters
The expansion of IMPS simplifies transfers for millions of clients of Kazakhstani banks. Instead of memorizing long account numbers, users can send money as easily as sending a message in a messenger.
For the market, this is a signal of increased competition in mobile banking and lowered barriers for cashless payments. Banks gain a standardized tool for interbank transfers, which reduces their operational costs.
The system also increases financial inclusion—clients of smaller banks can easily receive transfers from clients of major players and vice versa.
What’s next
NPCK reports that a number of banks are currently undergoing testing and technical integration. The connection of new participants will expand the system’s coverage across the country.
The development of IMPS is a step toward a unified digital payment space, where interbank transfers will become as simple as sending messages.