Most Kazakh banks have joined the Interbank Mobile Payment System, which allows customers to pay for purchases using a single QR code. The service is set to officially launch on July 19, after which its features will be gradually expanded, according to infohub.kz.
During a presentation of the Interbank Mobile Payment System (IMPS), Deputy Chairman of the National Bank Binur Zhalenov announced that the largest banks have already activated the system and are allowing customers to make purchases using a unified interbank QR code, rather than each bank's individual code. The system officially launches on July 19, but many financial institutions have already made it available to clients. However, the National Bank representative noted that some banks will implement the unified QR code gradually on their terminals.
“We don't want to make excuses, but this is a big project for banks. Some banks may have stabilization periods, and each will communicate that. We will, of course, address this with them, but we believe there should be no major issues. Already, the system has processed payments and transfers worth over 160 billion tenge, and that figure will grow,” said Binur Zhalenov.
The system allows businesses to accept cashless payments from customers of all participating banks via a single QR code. No new equipment is needed to accept payments – the service works on existing terminals, which only require an update.
The deputy chairman said the system is more than just interbank transfers. Essentially, Kazakhstan is building a national payment system – an analog to international card systems like Visa and Mastercard. Once all banks are integrated into a single platform, new services can be gradually introduced. By the end of the year, the plan is to roll out an interbank billing service, where a seller can send a payment request directly to the customer's banking app. Another direction is cross-border payments: negotiations are underway to integrate with China and Kyrgyzstan's payment systems, and documents have been signed with the UAE, Turkey, and India. By the end of the year, Kazakh citizens will be able to pay for purchases in China and Kyrgyzstan.
“Third is e-commerce. More and more online stores will offer payment through our system. You simply click the 'Pay via IMPS' button, and you'll be redirected to your bank's app. You won't need to enter card details,” said Binur Zhalenov. Additionally, static QR codes at parking lots, government service centers, public transport, and retail outlets will be gradually updated – by the end of the year, they will be replaced with a unified QR code. The National Bank is also exploring the possibility of introducing interbank biometric payments – using palm prints, fingerprints, or other data. Earlier, it was reported that Kaspi Bank would connect to the unified interbank QR code by July 19.