Starting October 2026, Kazakhstan will begin issuing licenses to first-category payment organizations. Effectively, a new class of players will appear on the market—payment banks that can open accounts and issue cards, but without the right to attract deposits or issue loans.
The National Bank’s leadership announced the changes during the Central Asia Fintech Summit 2026.
According to National Bank Deputy Chairman Binur Zhalenov, non-bank payment organizations have operated in the country for about 10 years, but their capabilities are strictly limited. The new status removes these barriers.
First-category organizations will be able to issue payment cards and e-money independently, without partnering with traditional banks. They will gain the right to open accounts directly for legal entities, connect to national payment systems and the unified QR, and open correspondent accounts with the National Bank for cross-border settlements.
The only strict prohibition concerns classic banking activities: the new players cannot issue loans or accept deposits.
Thirteen companies have already shown interest in the new license. Among them is the global crypto exchange Binance, which previously announced plans to create a regional settlement hub in Kazakhstan. The format has also attracted the attention of telecom operators and big tech: Yandex Qazaqstan mentioned the possibility of obtaining such a license for settlements with couriers and taxi drivers.
The regulator is giving technology companies a legal tool to launch their own financial services without a heavy banking license and capital adequacy ratios.
