Online payments in Kazakhstan and their iGaming usage

Kazakhstan becomes a country where digital payments are an integral part of daily life, and online services market continues to grow. Kaspi Bank, the flagship of local banking, sets the standard for financial services, and locals are transitioning to modern payment methods instead of traditional cash. Since 2020, the number of online payments in country has been steadily increasing, not only due to the pandemic, but also because of business development and increased funding. As a result, electronic wallets and other online payment methods are becoming increasingly popular and used in Kazakhstan.

But how can they be useful for iGaming operators? In this article, we will discuss several examples of payment systems and explore how players can use them to transact in online casinos.

Development of Kazakhstani digital economy

Since the start of pandemic, world has become more immersed in the digital space, and Kazakhstan is no exception. Entrepreneurs and government structures are actively adopting digital technologies, leading to a growth in electronic payments and simplifying life for both consumers and businesses. One of the sectors that has particularly benefited from this transformation is gambling. Online casinos have begun to leverage advantages of electronic payments, as they attract new customers who value speed and convenience of such transactions.

Today, online casinos are at the forefront of electronic payments and pay special attention to enhancing customer experience. It is hard to find another product on the digital market that takes experience of its visitors so seriously and meticulously cares about payment flows. This is not just because of high-risk nature of business, but also because it is created by young developers who know how to capture attention and understand modern audience needs. Previously, the main payment method was bank cards, but now many websites offer options such as mobile payments and electronic wallets. These methods are not only convenient but also reliable, as they ensure security of transactions and protection of personal data. In 2023 alone, approximately 3.8 billion transactions were conducted, which is 21% more than the previous year. In 2024, this figure is expected to grow, meaning the right time for merchants to consider entering Kazakhstan market. If you are planning to launch as a casino operator, you need to understand and adapt to this trend. And Monoup can help you do this quickly and effectively.

Online payment methods in Kazakhstan

Today, online payments have become one of the most convenient ways to conduct financial operations, whether it's purchasing goods or topping up an account in an online casino. The most popular methods in Kazakhstan are:

• Bank/Credit Cards: Visa and Mastercard in the national currency KZT remain popular for transactions, and many online stores offer this option first. It is a simple and straightforward payment method that works the same way around the world, which is why it has gained its popularity. 
• Electronic wallets: These can be topped up through bank transfers or credit cards. Electronic wallets act as intermediaries, allowing for anonymous deposits in online casinos. However, anonymity here refers to security of card data, while the client's name still needs to be disclosed.
• Cryptocurrency: Although this method is the least accessible in Kazakhstan, it remains an option for payments in online casinos. Many websites accept cryptocurrencies such as Bitcoin, Litecoin, Tether, and Ethereum. After Binance received a license for crypto exchanges in the country, use of cryptocurrency will increase significantly, as purchasing tokens has become easier and more accessible.
• Mobile payments: Mobile payment systems can be used with a local SIM card. This method allows for deposits to be made directly from a mobile phone account, with security ensured through SMS transaction confirmation. Additionally, mobile payments often have spending limits, which help control the budget.

Using mobile payments to top up accounts 

Mobile payments via SIM cards can be confidently called the most used payment method among online businesses in Kazakhstan. They are popular due to the simplicity and speed of the process. If you want to offer your users a convenient way to deposit and withdraw funds from online casino, consider mobile operators.

In Kazakhstan, there are several major mobile operators that support account top-ups through mobile payments. These include KCell, Beeline KZ, Tele2, and Altel. For example, KCell subscribers can easily pay for accounts and other services through mobile payments. To do this, simply purchase a top-up card at the nearest store or from an official retailer and then enter the card details in the KCell app. Similar steps apply to other operators, so it's hard to get confused.

Other major operators, such as Beeline and Tele2, also offer mobile payment services. They have good coverage throughout the country, making them convenient even for those who travel around Kazakhstan and want to quickly deposit away from home.

Why integrate mobile payments for iGaming?

Mobile payment systems are popular due to their convenience and security. This is very important for players — ability to quickly and easily deposit and withdraw funds by choosing a casino that supports this payment method. Therefore, if you plan to operate in Kazakhstan, you should definitely consider adding mobile payments for your users. Statistically, mobile payments are the most popular among all payment methods chosen by players in Kazakhstan.

Choosing the right payment methods plays a crucial role in creating a successful product in iGaming industry alone. Localization and consideration of customer preferences can significantly impact success of your brand and become a key element of well-working strategy in Kazakhstan market. Even the costs of processing payments through mobile systems may be higher than for bank cards, capturing any market is much easier with good payment coverage, so investing in this direction is worth efforts. Today, there are many iGaming products, and players are choosing among them. Localized websites with the best adaptation are far ahead in this race.

If you want to remain competitive and offer your players maximum convenience, we have what to offer you. For more detailed information and consultation contact us via email or Telegram. For more advice read Mono Talks.