By the end of 2026, Kazakhstan is set to introduce cross-border QR-code payments with China, a move that will enable citizens from both countries to make mobile payments during their travels. This development is part of Kazakhstan’s broader strategy to establish cross-border payment services with a total of 11 countries, including prominent economies like China, India, and the United Arab Emirates, as well as neighboring nations Kyrgyzstan and Uzbekistan. Kazakhstan’s National Bank anticipates that similar systems with other countries will be rolled out starting in mid-2027.
The collaboration with China is particularly significant as it could facilitate the wider adoption of the yuan in everyday consumer transactions, extending its use beyond traditional trade and investment. This initiative is a testament to the deepening financial ties between Beijing and Central Asian countries, aligning with the objectives of China’s Belt and Road Initiative. The planned payment system is a continuation of the existing financial cooperation between Kazakhstan and China, exemplified by the 2024 partnership between Kazakhstan’s Kaspi.kz and Alipay, which allowed Kaspi users to conduct mobile payments in China.
China’s efforts to internationalize the yuan are part of a broader strategy to enhance cross-border payment systems and reduce global reliance on the US dollar. This includes the promotion of digital yuan and QR-based payment systems. By collaborating with Kazakhstan on this initiative, China aims to bolster regional financial connectivity and encourage the use of yuan-denominated payment systems across Central Asia.
The introduction of this cross-border payment system is poised to enhance the economic integration of Central Asia with China, fostering a seamless payment experience for travelers and businesses alike. As Kazakhstan continues to expand its network of cross-border payment systems, it positions itself as a key player in regional financial integration, offering a model for other countries in the region seeking to enhance their financial ties with China and beyond.