In recent years, Kazakhstan has witnessed impressive growth in the e-commerce sector, leading to changes in the ways goods are bought and sold in the country. Let's explore this in the article below.
Increase in the Number of Internet Users
One of the key factors driving the growth of e-commerce in Kazakhstan is the increase in the number of internet users. Thanks to more affordable smartphone prices and the expansion of network access in rural areas, more people have gone online, paving the way for online shopping.
As of early May 2023, there were 17.4 million mobile subscribers with internet access in the country. Over the year, their number increased by 2.6%, and over five years, the growth was 28.1%.
The profile of an internet user in Kazakhstan looks as follows:
As of early May 2023, there were 17.4 million mobile subscribers with internet access in the country. Over the year, their number increased by 2.6%, and over five years, the growth was 28.1%.
The profile of an internet user in Kazakhstan looks as follows:
- 48% men, 52% women;
- 41% are aged 20-41, 29% are aged 6-19;
- 88% work in the country;
- 89% go online daily;
Development of Online Markets and Marketplaces
The emergence of online markets and marketplaces has created new opportunities for small and medium-sized entrepreneurs to offer their goods and services online. This contributes to increased competition and diversity of products available to consumers.
For example, the first Kazakh bank to create its own marketplace was Kaspi in 2014. In 2021, Kaspi's multifunctional application surpassed Amazon and Tinkoff in user activity, and the share of the marketplace in the company's revenue increased by 1.6 times. Following Kaspi's example, five more banks in the country opened online stores.
Another factor influencing the development of the e-commerce market is the emergence of various payment options for products and services online. There is a growing trend in Kazakhstan for the launch of Buy Now, Pay Later (BNPL) services. This payment tool allows users to make purchases conveniently without needing to pay the full amount upfront.
For example, the first Kazakh bank to create its own marketplace was Kaspi in 2014. In 2021, Kaspi's multifunctional application surpassed Amazon and Tinkoff in user activity, and the share of the marketplace in the company's revenue increased by 1.6 times. Following Kaspi's example, five more banks in the country opened online stores.
Another factor influencing the development of the e-commerce market is the emergence of various payment options for products and services online. There is a growing trend in Kazakhstan for the launch of Buy Now, Pay Later (BNPL) services. This payment tool allows users to make purchases conveniently without needing to pay the full amount upfront.
Development of Payment Systems
The development of the internet acquiring sector, which enables online payment acceptance, has fostered the growth of e-commerce in Kazakhstan. In the payments industry, various technological methods, such as online wallets, payments via links, and others, actively promote cashless payments. Recent trends include fast (instant) payments, the transition of payment systems to international standards, the use of remote identification, and QR codes in payments.
Internet Acquiring Services from Processing.kz
At Processing.kz, we provide a variety of online payment options, including internet acquiring and P2P transfers. Our services also include convenient features such as one-click payments, recurring (automatic) payments, and card linking to an electronic wallet. We offer flexibility in conducting transactions, allowing transfers through phone numbers, email, or social media IDs to bank cards.
Counteracting fraudulent operations is one of the priorities of our services. We also provide our partners with customized payment pages, reports, and other tools, including the ability to conduct payments via unique links.
Take advantage of setting up online payment acceptance with us. Your store will not only gain the ability to accept payments conveniently and securely but also become an integral part of the growing online commerce in Kazakhstan.
Counteracting fraudulent operations is one of the priorities of our services. We also provide our partners with customized payment pages, reports, and other tools, including the ability to conduct payments via unique links.
Take advantage of setting up online payment acceptance with us. Your store will not only gain the ability to accept payments conveniently and securely but also become an integral part of the growing online commerce in Kazakhstan.