Kazakhstan is set to introduce cross-border QR-code payment systems with China by the end of 2026, facilitating seamless mobile payments for travelers between the two countries. This initiative is part of a broader strategy by Kazakhstan’s National Bank, which is working on similar payment services with 11 countries, including India, the United Arab Emirates, Kyrgyzstan, and Uzbekistan. The bank anticipates expanding these systems with additional nations starting from mid-2027.
The collaboration with China could significantly enhance the use of the yuan, extending its application beyond trade and investment into routine consumer transactions. This development highlights the increasing financial collaboration between China and Central Asian countries, aligning with the objectives of the Belt and Road Initiative. It builds on existing payment partnerships, such as the 2024 agreement between Kazakhstan’s Kaspi.kz and China’s Alipay, which enabled Kaspi users to make mobile payments within China.
China has been actively promoting the internationalization of the yuan, aiming to bolster cross-border payments and lessen reliance on the US dollar. Part of this strategy involves expanding the use of the digital yuan and QR-based payment systems. The anticipated Kazakhstan-China payment system is poised to further enhance regional financial connectivity and foster broader adoption of yuan-based payment methods throughout Central Asia.
This move reflects a strategic effort by Beijing to integrate its currency more deeply into global financial systems, thereby reinforcing its economic ties with neighboring regions. By advancing such digital payment frameworks, both Kazakhstan and China are poised to facilitate smoother financial transactions, fostering economic growth and cooperation in the region.