NATIONAL PAYMENT SYSTEM OF KAZAKHSTAN: CREATION AND DEVELOPMENT PROSPECTS

Abstract

The payment system is a strategically important tool to ensure economic security and preserve the national interests of the country in a digital economy. The article discusses the development and formation of the payment system of Kazakhstan in different historical periods. Three stages of the development of the national payment system since Kazakhstan’s independence to the present have been identified and characterized. The National Bank of Kazakhstan has registered twenty payment systems, one of which is systemically important, three are recognized as significant, and sixteen belong to other payment systems. The National Bank of Kazakhstan, as the operator of payment systems, is constantly working on their modernization in accordance with the latest technological advances. Based on the analysis of the dynamics of payment flows through payment systems, the influence on the growth of the average payment size of the active development of the electronic payments market has been proved. The prospects for the development of the domestic payment system have been determined, allowing to significantly increase the availability of financial services.