The National Bank of Kazakhstan unveiled a unified QR code today, with the launch scheduled for July 19. The deputy chairman of the regulator explained why the system's implementation took so long, reports infohub.kz.
"The system has been in development for a long time. The active implementation phase lasted several years. There were many issues, as banks had built their own systems, investing in them and developing their own technological standards and ecosystems. Our task, for the sake of competition, was to unite everyone into a single ecosystem. There was extensive discussion around approaches to tariff setting, as well as who would bear responsibility if a payment went wrong—whether it would be the recipient bank, the sender bank, or the operator. All of this needed to be codified in regulatory acts," said National Bank Deputy Chairman Binur Zhalenov.
He added that a major component was related to combating fraud and protecting personal data. "In essence, the system was launched last summer. At that time, six banks connected, and we gradually added more, and today all major market participants are connected. So it took time," Zhalenov said.
Previously, National Bank Chairman Timur Suleimenov announced that the unified QR code for all banks in Kazakhstan would be launched on July 19. In July 2025, he noted that, considering technical refinements and the alignment of QR payment formats, the full launch with all banks connected was expected by the end of 2025.