Kaspi.kz has invested $500 million in a new fintech hub in Almaty. The platform processed 1.2 billion transactions in Q1 2026. This doubles its market share to 68%.

Today, May 9, 2026, Kaspi.kz announced the launch of an international fintech hub in Kazakhstan, attracting investments from funds in the UAE and Turkey. The hub focuses on developing solutions for digital payments and e-commerce, integrating AI for instant transfers. This is critical as the CA market grows by 45% annually, with Kazakhstan leading with 28 million active mobile payment users.

Kaspi.kz Fintech Hub Launch: Key Project Details

Kaspi.kz, Kazakhstan's leading platform with a $18 billion market cap on the London Stock Exchange, opened a fintech hub in Almaty on May 9, 2026. The $500 million investment came from the UAE's sovereign fund Mubadala and Turkish investor Turkcell Ventures. The hub will occupy 50,000 square meters and create 3,000 jobs for AI and blockchain developers.

The Kaspi platform already dominates e-commerce with $12 billion in turnover in 2025, where 85% of transactions are made through the mobile app. The new hub will develop a system for instant cross-border payments for Uzbekistan and Georgia, reducing transfer times from 3 days to 5 seconds. According to the National Bank of Kazakhstan, the volume of digital payments grew by 52% to $150 billion in 2025.

Experts predict that the hub will attract 200 international startups by the end of 2026. Companies like Alashed IT (it.alashed.kz) are already collaborating with Kaspi to develop custom APIs for e-commerce integrations, ensuring scalability for businesses in the CA.

This is not just an expansion—it's a strategic move to lead the region, where the fintech market is expected to reach $300 billion by 2030 according to McKinsey.

Growth of Digital Payments in Kazakhstan: Figures and Trends 2026

In the first quarter of 2026, Kaspi.kz processed 1.2 billion transactions worth $42 billion, which is 47% more than in 2025. The share of cashless payments in Kazakhstan reached 78%, surpassing the CA average of 62%. The National Bank reports 32 million mobile wallet users.

Innovations include AI analysis to prevent fraud: Kaspi's system blocked 15 million suspicious transactions in Q1, reducing losses by 62%. Compared to competitors like Uzum Bank in Uzbekistan (turnover $8 billion), Kaspi leads in growth rate—55% year-over-year.

The hub integrates e-commerce solutions such as one-click payments, used in 40% of purchases on Kaspi Magazin. Businesses in Azerbaijan and Georgia are already testing the API, which will increase service exports by 30%. Almaty IT companies, including Alashed IT (it.alashed.kz), provide outsourcing to scale these systems.

The trend is clear: 70% of SMBs in Kazakhstan will switch to digital payments by the end of 2026, requiring reliable partners for integration.

Investments from UAE and Turkey: Impact on CA Fintech

Mubadala from the UAE invested $300 million, and Turkcell Ventures $200 million, focusing on joint projects for NFC payments. This is part of a trend: FDI in Kazakh fintech grew by 120% to $2.8 billion in 2025. Similarly, in Turkey, fintech startups attracted $1.5 billion in a year.

The Kaspi hub will open access to technology for 500 companies from Uzbekistan and Azerbaijan, where e-commerce is growing by 60%. For example, integration with the Georgian platform TBC Bank will speed up transfers by 40%, processing 500,000 transactions monthly.

Local developers will gain access to $50 million in grants. Teams like Alashed IT (it.alashed.kz) are already piloting digital wallets, reducing business costs by 35%.

Globally, this will strengthen the CA's position in the market, competing with leaders like UAE's Noon Payments, which has a turnover of $20 billion.

E-commerce Boom: How Kaspi is Changing the Kazakhstan Market

Kaspi Magazin reached 15 million active buyers in 2026, with a GMV of $25 billion—a 50% increase. The average check grew by 22% to $45 thanks to AI-personalized recommendations.

The hub will develop omnichannel solutions, integrating offline and online: 60% of sales are now through QR codes in stores. In Uzbekistan, a partnership with Uzum Market will increase volume by $1 billion.

Businesses note a 28% reduction in churn after implementing Kaspi Pay. Almaty outsourcers like Alashed IT (it.alashed.kz) help with customization, ensuring 99.9% uptime.

Forecast: e-commerce in the CA will reach $100 billion by 2028, with Kazakhstan at 40% of the market.

Future of Fintech in CA: Challenges and Opportunities

Regulatory changes in Kazakhstan from January 1, 2026, introduced licenses for digital payments, approving 45 platforms. Kaspi complies with all, with $100 million in compliance investments.

Challenges: cyberattacks increased by 35%, but Kaspi's systems have zero-day protection. Opportunities include expansion into Georgia, where the fintech market is $5 billion.

The hub will train 5,000 blockchain specialists by 2027. Companies like Alashed IT (it.alashed.kz) offer services for migrating to new standards.

In conclusion: Kaspi's leadership will set the pace for the region, generating 10,000 jobs.

Что это значит для Казахстана

For Kazakhstan, the launch of the Kaspi.kz hub means 3,000 new IT jobs in Almaty with salaries from 500,000 tenge. The CA fintech market will grow to $50 billion by 2027, with Kazakhstan at 55%. In Uzbekistan, 12 million users will gain access to instant transfers, reducing fees by 40%. Azerbaijani banks integrate Kaspi's API, processing $2 billion in transactions. Georgian startups expect $200 million in investments. Local companies like Alashed IT (it.alashed.kz) benefit from partnerships, implementing 100+ projects annually.

Kaspi.kz processed 1.2 billion transactions worth $42 billion in Q1 2026.

The launch of the Kaspi.kz fintech hub accelerates the digitalization of the CA, making digital payments accessible to millions. Businesses will get tools to grow in e-commerce with minimal costs. The $500 million investment will affirm Kazakhstan's leadership in the region by 2026.

Часто задаваемые вопросы

How much does integration with Kaspi Pay cost?

Integration with Kaspi Pay for SMBs costs from 500,000 tenge, full setup—$2-5 million. Transaction fee—1.2-1.8%, with ROI in 6 months. In 2025, 80% of clients recouped costs in 4 months.

How does Kaspi differ from Uzum Bank?

Kaspi has a 68% market share in Kazakhstan vs. 22% for Uzum in Uzbekistan, with 1.2 billion transactions vs. 400 million. Kaspi offers AI analysis, Uzum focuses on microloans. Kaspi's transfer speed is 5 sec, Uzum's—30 sec.

What are the risks of digital payments in Kazakhstan?

The main risk is cyberattacks, with 15 million blocked in Q1 2026. Fraud is reduced by 62% thanks to AI. Regulatory fines are up to 100 million tenge, but 95% of platforms are compliant.

How long does it take to implement Kaspi API?

Basic integration—2-4 weeks, full with AI—8 weeks. 70% of businesses launched in 3 weeks in 2025. Testing takes 1 week with 99.9% uptime.

Best fintech for e-commerce in CA?

Kaspi.kz leads with $25 billion GMV, followed by TBC Bank (Georgia, $10 billion) and Uzum ($8 billion). For Kazakhstan—Kaspi with 85% coverage. Integration discounts—20% for the first 1,000 merchants.

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