QR payments have become the fastest-growing segment of cashless transactions in Kazakhstan. In the first five months of 2026, their volume reached 8 trillion tenge, allowing the format to bypass classic POS terminals for the second consecutive year.
What happened
The share of QR code payments in Kazakhstan increased from 2.8% in 2023 to 10.8% in 2026. This was reported by Kursiv citing Finprom statistics.
In absolute figures, QR turnover reached 8 trillion tenge. For comparison, 7.5 trillion tenge passed through traditional POS terminals over the same period, which corresponds to 10.2% of the market.
Country and market
The overall cashless payment market in Kazakhstan has reached the limit of extensive growth. For January-May 2026, the volume of operations amounted to 73.5 trillion tenge. The cashless share stabilized at 87.6%, while cash withdrawals account for the remaining 12.4%.
The sector’s growth rates are naturally declining. While the market grew 2.6 times in 2020, it added only 3.9% over the last year. The main payment channel remains the internet and mobile banking applications — they account for almost 80% of the turnover, but this share is beginning to gradually shrink under the pressure of QR payments.
Almaty remains the absolute leader in transaction volume (37.2 trillion tenge), followed by Astana and Shymkent by a wide margin.
Why it matters
The market is preparing for a massive structural shift. The National Bank, together with the Agency for Regulation and Development of the Financial Market (ARDFM), has begun the phased scaling of a unified QR code. The full launch of the interbank system is scheduled for July 19, 2026.
The new standard will allow buyers to pay for goods through any bank’s application, regardless of whose terminal or QR code sticker is installed at the seller’s checkout.
What’s next
The introduction of the interbank standard will break the infrastructural monopoly of major players and force banks to compete for transactions using loyalty programs and cashbacks. For business, this means simplifying checkout settlements and a potential reduction in acquiring commissions in the medium term.