Kazakhstanis to Gain QR Payment Access Abroad: Singaporean Fintech Giant 8B Enters the Market

The process of implementing a unified QR code shared by all banks has officially launched in Kazakhstan’s payment market. In this context, the Singapore-based international fintech company 8B, which specializes in developing payment infrastructure based on national fast-payment systems and QR solutions, has announced its entry into the Kazakhstan market.

8B is a global fintech firm headquartered in Singapore, with a portfolio of successful projects in over 30 countries, including India, China, Vietnam, and Indonesia. In Kazakhstan, the company will focus on three key strategic directions:

1. Supporting the Tourism Sector

Kazakhstani airlines, hotels, and ticket reservation systems will be empowered to accept payments from tourists coming from China, India, and South Korea. These transactions will utilize the visitors' preferred national payment tools, such as WeChat Pay, Alipay, and UPI, making the local travel experience more seamless for international guests.

2. International QR Payments for Kazakhstani Citizens

Citizens of Kazakhstan will soon be able to pay for goods and services abroad - including in popular destinations like Vietnam and Thailand - using the QR systems within their own domestic banking applications. This integration is set to significantly simplify the international settlement process for travelers.

3. Payments for International Online Services

The third initiative focuses on enabling Kazakhstanis to pay for global online platforms and digital services using their "home" payment instruments, including the Unified QR code.

As part of its localization strategy, 8B plans to expand its office in Kazakhstan, host a portion of its technical infrastructure within the country, and deepen its cooperation with local banks and regulators. All financial settlements will be conducted through "Zesta" LLP, a payment organization licensed in the Republic of Kazakhstan.