When Will the Unified QR Code Be Launched in Kazakhstan? National Bank Governor Announces Official Timeline

The Governor of the National Bank of Kazakhstan, Timur Suleimenov, provided an update on the implementation schedule and preparation progress of the interbank unified QR-code system during a recent briefing. Currently, financial institutions are finalizing technical adjustments, with a specific focus on ensuring data security.

The legal norms and resolutions governing the system's rollout are set to come into effect on July 19 of this year.

• Mandatory Participation: All banks in the country are required to join the system by this date.

• Current Status: Financial organizations have already signed the participation agreements and are currently conducting technical integration.

Governor Suleimenov emphasized that the primary focus remains on the security of payments:

"This involves complex cryptography and digital systems that must be thoroughly understood. We must ensure the absolute protection of the payer's personal data and other critical information. Otherwise, instead of a breakthrough project, we could face significant issues. Therefore, we do not want to rush this process; it is essential that the banks' technical services align everything correctly."

He further noted that the unified QR code could potentially appear before July 19. However, he warned that banks failing to implement the system by the designated deadline would be held accountable.

While the Association of Financiers of Kazakhstan previously suggested that the process was ahead of schedule, the Head of State recently criticized major financial institutions for their perceived delay in joining the system. The Governor explained that these delays are primarily attributed to the diversity of technological protocols across various banking infrastructures.