Yandex Qazaqstan head Timur Shalkenov said the company does not plan to launch its own bank, but is exploring a payment organization license to streamline payouts to couriers and taxi drivers.
Shalkenov noted that the payments market is highly competitive, making it difficult for the company to compete in this segment alone. The payment service is needed so Yandex’s partners—around 800,000 people—can receive funds immediately after each transaction rather than at the end of the day. Shalkenov also expressed interest in connecting to the national payment system, which would allow partners to process transactions via QR codes across the ecosystem of other market participants.