Use of online banking in Kazakhstan increases by 60%

More and more Kazakh citizens choose cashless payments.  The use of online banking has increased by 60 percent in the country over the past 5 years.  According to analysts of the Ranking.kz portal, this is primarily due to the development of financial technologies.  Companies in the country's market are actively automating all work processes and transferring most products and services online.  At the same time, it is also beneficial for bank users not to withdraw money, but to spend it through online banking, receiving bonuses and special offers.  Today, every economically active citizen has at least four online services in his smartphone.

“The growth in the number of online banking users is a completely logical trend.  This is happening amid a general increase in the digitalization of all the processes that we have.  And an essential element of digitalization, especially in any retail sector, is the number of people who use the mobile Internet, including broadband access.  This is a very important indicator; at the end of last year, we had nearly 17 million users.  And it is logical that, in these conditions all these processes are being digitized,” said Sergey Domnin, an economist.

Translation by Aruzhan Bizhigitova

Editing by Saule Mukhamejanova