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Tuesday, March 26, 2019

Mini-mobile POS terminals for card payments introduced by Kazkommertsbank

Kazkommertsbank, one of the largest banks in Kazakhstan and Central Asia, recently introduced mini-mobile POS terminals to help facilitate card payments.

The mobile terminal connects to a customer's phone or tablet on an iOS or Android operating system. The cardholder signs on the screen and the receipt will be sent to the correlating e-mail address.

Payments via Visa and MasterCard are currently accepted by the terminals and the commission for merchants receiving card payment using a mobile terminal will be just 2.6 percent.

"Today in Kazakhstan, monthly cashless purchases of various goods and services is worth more than $500 million, most of which passes through small and medium enterprises. We offer traders a chance to join this great opportunity, which is a cheap and easy solution," Nurlan Zhagiparov, the executive director of KKB, said.

According to Moody's Investors Services, a one percent increase in card payments leads to an increase in GDP of 0.028 percent in countries with developing economies. In Kazakhstan, the effect of the growth of card payments in 2012 amounted to 0.6 percent of GDP growth.