The issuance of payment cards from international systems Visa International and Mastercard Worldwide has increased in Kazakhstan, reports Tengrinews.kz correspondent.
According to the National Bank's statistics, the number of cards from international payment systems rose from 54.625 million (as of January 1) to 56.745 million (as of February 1). This represents an increase of 2.1 million cards, or 3.9 percent.
In January, the issuance of Visa cards by banks grew by 2.8 percent, reaching 40.804 million cards, while over the year, the increase was 8.1 percent.
The number of Mastercard cards in circulation increased by 7.3 percent in January, and by 31.6 percent over the year, totaling 14.537 million cards.
It is worth noting that in December 2024, a resolution was published by the ARRF regarding the limitation of card usage for foreigners to 12 months.
"The validity period of payment cards issued to clients who are non-residents of the Republic of Kazakhstan does not exceed 12 (twelve) calendar months, except for payment cards issued to business entities, diplomatic staff, and investors," the document stated.
In early March 2022, international systems Visa and Mastercard announced that they were suspending operations on cards issued by Russian banks as part of sanctions. The exit of international payment systems from Russia led to the emergence of services for opening banking payment cards for Russians in Kazakhstan. In March 2022, the number of Visa and Mastercard cards increased by 1.4 percent, and in September and October, during the mobilization in the Russian Federation, it rose by 1.4 percent. Meanwhile, in June 2022, against the backdrop of an influx of Russians into Kazakhstan, the number of issued cards from international payment systems grew by 3.6 percent.
Overall, as of March 1, there are 83.598 million payment cards in circulation. The largest share is held by Visa cards, making up 48.8 percent. Mastercard accounts for approximately 17.4 percent of the market.
Debit cards are the most common, comprising 82 percent, while credit cards account for 15.1 percent. Debit cards with credit limits and prepaid cards make up 2.8 percent.
Previously, we reported that the National Bank of Kazakhstan presented a draft resolution aimed at strengthening control over banking operations of non-residents to mitigate the risk of speculation with foreign currency. According to the document, the amendments aim to shorten the reporting period for banks regarding currency operations conducted by their clients to obtain timely information about the situation in the currency market for subsequent analysis and, if necessary, to take prompt measures.
