Commercial banks are about to switch to an integrated QR code system in Kazakhstan

Businesses are no longer forced to have several payment terminals from different banks

According to Assel Zhanasova, vice minister of trade and integration, all commercial banks in Kazakhstan are going to switch to the integrated QR system. It is expected that the system will be rolled out by the end of the current year.

The ministry initiated the standardization of QR codes for point-of-sale (POS) terminals last year.

“Last year, we did massive work to get rid of any difference in payments while people use POS terminals with QR. No matter which bank issued your card you must have an opportunity to pay with help of a single QR system. Businesses will no longer be required to have dozens of POS terminals and pay for them all. One terminal must be able to interact with all participants of the payment market,” the official said at the e-commerce forum in Nur-Sultan.

She also noted that Kazakhstan’s commercial banks are obliged to complete the system by end of the year.

“Everyone in Kazakhstan is going to have an opportunity to pay through QR as all these codes and terminals will be able to interact with each other,” Zhanasova added.

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