Cashless payments losing popularity in Kazakhstan
The popularity of non-cash payments is falling in Kazakhstan, according to a message from the analytical service, Ranking.kz.
The message said that during a period between March 2014 and March 2015, the volume of cash withdrawals in Kazakhstan was 9.3 times higher than the volume of cashless payments by credit cards (574 billion tenges versus 62 billion tenges at the rate of 185.8 tenges/$1).
“This is the biggest difference over the past five years,” the message said.
Over the year the volume of cash withdrawals with bank cards in Kazakhstan rose by 14.2 percent (71.47 billion tenges). For comparison, the volume of cashless payments over the year decreased by 5 percent in Kazakhstan.
The number of cash withdrawal transactions in the reporting period increased by 1.4 million transactions up to 15.9 million.
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