Kazakhstan is gearing up to establish its own national system for processing credit card payments, with the country’s regulatory agency reportedly in collaboration with commercial banks.
Till now, this was the domain of a few international banks.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
![](/wp-content/themes/goodlife-wp-B2B/assets/images/company-profile-unit.png)
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataReports emerged that the National Bank is currently engaged in developing such a system.
National Bank Governor Kairat Kelimbetov said: "This includes both clearing, that is, the channeling of all transactions through a Kazakhstani-based payment centre, and the establishment of a new processing centre for all the banks."
GALA Invest Consulting president Galina Shalgimbayeva said: "Considering today’s realities, we should have back-up payment options for our banking system."
Although few commercial banks remain sceptical of such a move as they say that it would take decades to develop such a system. They also added that competing with Visa and MasterCard could be tough.