News dalla rete ITA

24 Novembre 2021

Kazakistan

KAZAKHSTAN-NON-CASH-PAYMENTS

Non-cash payments in Kazakhstan up 120% in Jan-Nov - AFKThe volume of non-cash card payments in Kazakhstan soared 120% in 2021 and reached 49.6 trillion tenge, the Association of Financiers of Kazakhstan (AFK) said on Wednesday.In Jan-Nov 2020, non-cash transactions in the country amounted to 22.3 trillion tenge."Despite the market tendency of reaching a plateau, the card payments continue to break records. In half of the country's regions, the share of non-cash payments has exceeded 70%, POS terminals transactions make up 91% of retail trade," the association said.Most of all non-cash deals were made online or through mobile banking, 83% or 41.1 trillion tenge.AFK notes that cash withdrawals and cash circulation is growing as well. The association attributed a high share of cash payments to the shadow economy that involves 2 million self-employed people or 23% of the country’s labor force, inflationary pressures, and the public's confidence in cash.Cash withdrawals in January-September 2021 increased by 25.2% to 15 trillion tenge.The volume of cash in circulation reached 3 trillion tenge in January-September 2021, or an increase of 6.2% compared to the same period in 2020. “However, the ratio of cash to the money supply in the economy has decreased from 11.6% to 10.3%, reflecting a fast transition to cashless payments," AFK said.The association also noted a 53% increase in the number of credit cards issued in January-October 2021 to 13.6 million. (ICE ALMATY)


Fonte notizia: INTERFAX