Kazakhstan is set to implement cross-border QR-code payment systems with China by the end of 2026, enabling seamless mobile transactions for travelers between the two countries. This initiative is part of a broader plan by Kazakhstan’s National Bank to establish cross-border payment services with a total of 11 countries, including China, India, the United Arab Emirates, Kyrgyzstan, and Uzbekistan. Additional systems with other nations are anticipated to be rolled out starting mid-2027.
The agreement with China aims to extend the use of the yuan from traditional trade and investment into everyday consumer payments, underscoring an intensifying financial collaboration between China and Central Asian nations under the Belt and Road Initiative. This proposed system is an extension of the existing payment infrastructure between Kazakhstan and China. Notably, in 2024, Kazakhstan’s Kaspi.kz joined forces with Alipay, facilitating Kaspi users to make mobile payments within China.
China’s push for the broader international adoption of the yuan is part of its strategy to enhance cross-border payment frameworks and reduce reliance on the US dollar. This move aligns with Beijing’s efforts to expand the use of the digital yuan and QR-based payment technologies.
The Kazakhstan-China payment initiative is poised to enhance financial connectivity across the region and promote the use of yuan-based payment systems throughout Central Asia. This development reflects a significant step towards deeper economic ties and financial integration facilitated by technological advancements in payment solutions.