The National Bank of Kazakhstan, VEON and its subsidiary KaR-Tel have signed a memorandum on developing payment services and national payment infrastructure. The agreement includes exploring how VEON group companies could obtain a first-category payment organization licence, DKNews.kz reports.
The memorandum was signed at the third annual Central Asia Fintech Summit 2026 in Almaty. At the same event, the central bank’s Digital Development Center and Alatau City Authority agreed to explore digital technologies and artificial intelligence for the development and management of Alatau city.
What the VEON agreement covers
Cooperation between the National Bank, VEON and KaR-Tel will focus on improving payment services and introducing modern digital payment solutions.
Licensing remains a matter for further work. Signing the memorandum does not mean that a licence has already been issued. The central bank’s statement did not specify a licensing timetable or identify the new services under consideration.
Interbank mobile payments reach 400 billion tenge
Opening the summit, National Bank Governor Timur Suleimenov highlighted the development of Kazakhstan’s payment infrastructure. According to the figures he presented, more than 90% of retail payments in the country are now cashless.
The Interbank Mobile Payment System became one of the infrastructure’s new components in 2026. It supports transfers between banks using a phone number and payments through an interbank QR service.
According to the central bank, the service has processed 20 million transactions worth approximately 400 billion tenge since its launch on July 19.
These services form part of Kazakhstan’s National Digital Financial Infrastructure, alongside the digital tenge, the Anti-Fraud Center, biometric identification and other solutions.
Since late 2024, the National Bank has been implementing a digital transformation strategy for financial regulators. The strategy covers internal processes, financial market development and the introduction of new technologies.
Suleimenov also noted that the National Payment Corporation, which operates under the central bank, marks its 30th anniversary this year. The corporation is organizing CAFS for the third consecutive year. The 2026 summit brought together more than 4,000 participants, including regulators, government officials, financial and technology companies, and experts from Kazakhstan and abroad.
Alatau to assess AI and supervisory technology
A separate memorandum was signed by the National Bank’s Digital Development Center and Alatau City Authority. The authority is responsible for the operation and development of Alatau under a special legal regime.
The partners intend to assess how digital solutions and AI could support the city’s needs. The Digital Development Center will serve as a technology partner for the development, integration and maintenance of information systems.
The center is a subsidiary of the National Bank specializing in digital solutions, including systems that use artificial intelligence.
One area of cooperation will involve demonstrating a SupTech platform and assessing its potential use by Alatau City Authority. SupTech, short for supervisory technology, refers to digital tools that help analyze data and support oversight processes.
The partners plan to identify priority areas and specific projects before drawing up a cooperation roadmap.
For more on how Kazakhstan’s interbank services work and the role of the digital tenge, read our interview with National Payment Corporation Chair Zhanar Samayeva on unified QR payments, instant transfers and digital currency.
