Cash accounts for 12% of consumer payment volume in Kazakhstan. By this measure, the country has nearly caught up with leading global economies and surpassed several emerging markets, according to the annual national study «Fintech in Kazakhstan 2026.»
Kazakhstan’s figure is close to those of the U.S., where cash accounts for 11% of consumer payments, and the U.K., at 10%.
Norway recorded the lowest level of cash use, at just 4%. China and Sweden also rank among the countries with the lowest cash usage, with banknotes and coins accounting for 5% of payments in each country. In South Korea, the figure is 7%. Kazakhstan, meanwhile, is well ahead of Brazil, where cash still accounts for 17% of payment volume.
Digital banking dominates transaction value
Internet and mobile banking remain the leading payment channels by transaction value, accounting for approximately 80% of total payment volume. They are primarily used for large-value transactions.
At the same time, QR payments have become a major tool for everyday, low-value retail purchases. The share of QR transactions by volume has nearly doubled, reaching 10% of the total.
In the first five months of 2026, QR payment turnover reached $17 billion, surpassing transactions through point-of-sale (POS) terminals, which totaled $16 billion, for the second consecutive year.
Study draws on national and global data
The «Fintech in Kazakhstan 2026» study was prepared by RISE Research in collaboration with bcc hub, Fintech Center and Tarlan, with support from the National Bank of Kazakhstan. The analysis draws on National Bank statistics and data from the Worldpay Global Payments Report 2025.
The report’s authors note that the figures are estimates because of methodological differences. International statistics incorporate data from POS terminal processing and surveys, while Kazakhstan’s figure reflects the share of cashless transactions in the total value of card-based transactions.
