Kazakhstan's National Bank Schedules Launching Unified QR Code System
Date
4/13/2024 5:14:54 AM
(MENAFN- Trend News Agency) ASTANA, Kazakhstan, April 13. By 2025, theNational bank of Kazakhstan intends to implement a national unifiedQR code system for all the country's banks, chairman of the bank,Timur Suleimenov, told journalists, Trend reports.
Suleimenov underlined that research in this area is currentlyongoing. The system's goal is to develop a single, interoperable QRcode that all banks will accept. As a result, customers will beable to make payments in stores regardless of which bank providedthe QR code.
Earlier, the head of the National Bank emphasized the importance ofreducing payment market monopolies. He emphasized that thecountry's two major banks have a sizable market share, and the newsystem will make the payment process more transparent andconvenient for all players.
According to him, the system's pilot deployment will take place atthe end of this year, with the complete introduction of the uniformQR code for all banks anticipated for 2025.
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