By the end of 2026, Kazakhstan is set to introduce cross-border QR-code payment capabilities with China, a move that will enable citizens from both nations to make mobile payments while traveling between the two countries. This initiative is part of a broader strategy by Kazakhstan’s National Bank, which is also working on similar payment services with 11 other countries, including India, the United Arab Emirates, Kyrgyzstan, and Uzbekistan. These systems are anticipated to become operational starting in mid-2027.
The agreement with China represents a significant step in extending the use of the yuan beyond traditional trade and investment, facilitating everyday consumer transactions. It also highlights an increasing financial collaboration between Beijing and Central Asian nations, which is a key element of China’s Belt and Road Initiative. The planned payment system will build upon existing financial cooperation between the two countries, exemplified by a 2024 partnership between Kazakhstan’s Kaspi.kz and Alipay, which allowed Kaspi users to execute mobile payments while in China.
China has been actively promoting the broader international use of the yuan, aiming to enhance cross-border payments and lessen reliance on the US dollar. The initiative with Kazakhstan aligns with Beijing’s efforts to expand its digital yuan and QR-based payment systems as part of this strategy. The collaboration could lead to stronger regional financial ties and increase the adoption of yuan-based payment systems across Central Asia.
The Kazakhstan-China payment initiative is poised to boost financial connectivity within the region significantly. As Kazakhstan expands its cross-border payment services with various countries, the partnership with China could serve as a model for future agreements, further integrating Central Asia into China’s economic framework. This development underscores the growing interdependence between Kazakhstan and China in terms of financial technology and consumer payment solutions.