Mobile phones are the future of Kazakhstan's payment system: Massimov

Payment system in Kazakhstan could be rebased to mobile phones in future, Tengrinews reports citing Prime Minister of Kazakhstan Karim Massimov.

At a joint Parliament session last last month he responded to questions about effectiveness of information and communication technologies in Kazakhstan. "Now there is a debate on whether we need to develop our own payment system and what we should base it on. The payment cards that we have grown so used to are going to become a vestige of the past in 10 years from now. The trend goes towards cell phones. Potentially, in a relatively near future, cell phones will become a sufficient means for making payments in developed countries.”

PM Massimov believes it unnecessary for Kazakhstan to pass “all the stages of development” that the developed countries have gone through, but rather to take a look at “where all of this is going to” and adopt the technological advancement of the developed countries without having to go through the same process, he said. 

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