China, Kazakhstan plan QR payments, expanding yuan’s reach in overseas retail purchases
Planned launch follows existing cooperation between super apps Alipay and Kaspi.kz, letting travellers use home-country app at certain merchants without exchanging cash
Kazakhstan plans to launch QR-code payments with China by the end of 2026 – a move that analysts say could expand the yuan’s use beyond trade and investment into everyday transactions while offering a “gentle yet substantive” alternative to the US dollar.
The Central Asian country is preparing to introduce cross-border payment services with 11 countries, including China, India, the United Arab Emirates, Kyrgyzstan and Uzbekistan, according to comments on Friday from Binur Zhalenov, deputy governor of the National Bank of Kazakhstan.
The payment system with China is expected to begin operating by year-end, allowing citizens of both countries to make payments using mobile QR codes while visiting each other’s countries, Zhalenov said at a fintech summit in Almaty, according to state news agency Kazinform. Systems with other countries are tentatively scheduled to launch from mid-2027.