Share of Online Transactions in Retail Cashless Transactions Soared to 81%
In 2020, card holders of Kazakhstan’s banks closed almost 3 billion cashless transactions worth 35.3 trillion KZT, where online transactions, i.e. Internet payments and mobile banking, account for 81% of that volume.
This significant growth was mainly boosted by quarantine restrictions. Share of online transactions in the total number of cashless transactions at the end of 2020 was 66% versus mere 46% at the beginning of the same year.
At the end of 2020 number of active users of mobile and Internet banking surged by 82% and totaled 14 million. Overall, number of registered users of these services rose up by 46% for a year.
In 2020, online transactions accounted for over 80% of the total volume of cashless transactions
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