Kazakhstan developing new payment system: Central Bank Governor

 Kairat Kelimbetov, Kazakhstan’s Central Bank Governor, announced that Kazakhstan was developing a new payment system, a Tengrinews.kz journalist reports.

“All the global payment systems are already operating in Kazakhstan (…) the world sees completion getting stiffer in terms of technology, innovations. The country’s Central Bank is working on a new payment system 3.0”, he said at a press-conference in Astana when unveiling a new payment card issued by Kazakhstan-based Halyk Bank in partnership with UnionPay International.

“We want to come up with a payment system compatible with leading global payment systems”, he elaborated.

Earlier the country’s PM Karim Massimov said that payment systems in Kazakhstan should involve mobile phones. “There are many arguments over possible payment systems (…) conventional credit cards we are used to are set to be a thing of the past in ten years. The trend is to have mobile phones actively involved. They are likely to be the only payment tool in developed nations in the nearest future. I believe given the fast pace of penetration of the Internet and growing availability of mobile phones in Kazakhstan, we will put forward respective suggestions on payment systems”, he said.