Kazakhstan's cashless economy shifts to virtual cards and QR payments

Astana – Kazakhstan's transition to a cashless economy is accelerating, marked by the increasing prevalence of virtual cards and the dominance of QR payments over traditional bank cards at point-of-sale terminals. This evolution signifies a move beyond simply replacing cash with cards, towards a system where smartphones serve as the primary payment interface.

National Bank statistics updated on July 31 reveal a significant trend: out of 83.6 million payment cards in circulation as of July 1, only 41.9 million were actively used. Among these active cards, virtual versions constituted 53%, surpassing physical cards at 47%. This indicates that digital payment methods are now the preferred choice for the majority of active users.

The way consumers conduct transactions at retail outlets is also transforming. During the first half of 2026, QR payments represented 58% of all transactions processed through point-of-sale infrastructure, compared to 42% for bank cards. This trend extended to transaction value, with QR payments accounting for 53% and card payments for 47%.

Daily transaction data further illustrates this shift. Kazakh citizens made approximately 11 million QR payments daily, totaling 57.3 billion tenge (US$122 million), while card payments averaged around eight million transactions worth 50.8 billion tenge (US$108 million) per day. The average QR transaction value was 5,200 tenge (US$11), suggesting its growing popularity for everyday, lower-value purchases.

Ruslan Sultanov, author of the analytical channel Tengenomika, described these figures as representing a new phase in Kazakhstan's payment digitalization. "Earlier, the key change was the shift from cash to bank cards. Now the cashless payment itself is changing, as the physical payment instrument increasingly gives way to a digital interface," Sultanov stated. This ongoing digitalization is reshaping the competitive landscape for banks, as the number of active users and their preferred digital banking products become more critical than the sheer volume of cards issued.

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Earlier, the key change was the shift from cash to bank cards. Now the cashless payment itself is changing, as the physical payment instrument increasingly gives way to a digital interface.