Kazakhstan’s National Bank, Visa Sign Landmark Memorandum to Boost Digital Payments

The National Bank of the Republic of Kazakhstan and Visa have signed a Memorandum of Cooperation, marking the first agreement ahead of the C5+1 Leaders’ Summit and the “10th Anniversary of C5+1” Business Conference in Washington, D.C.

The memorandum was signed by Aqylzhan Baimagambetov, Deputy Chairman of the National Bank of Kazakhstan, and Robert Thomson, Senior Vice President and Global Head of Government Engagement at Visa, The Caspian Post reports via Kazakh media.

Baimagambetov said that the agreement focuses on developing Kazakhstan’s digital financial infrastructure and expanding modern digital payments in the domestic market.

“The memorandum is aimed at expanding cooperation in the field of advanced payment technologies and testing new digital solutions in the payments market. The key areas include: establishing a competence center based on the National Payment Corporation with Visa’s support to pilot new solutions; promoting and deepening best practices in digitalization, developing biometric identification systems in the financial market, enhancing cybersecurity and fraud prevention efforts in the financial sector,” said Baimagambetov.

Thomson welcomed the collaboration, emphasizing its role in accelerating digital innovation across Kazakhstan.

“It is a great honor for us to sign this memorandum with the National Bank of Kazakhstan to accelerate digital innovation across the country through digital assets, cybersecurity, and data on travel and tourism. These efforts will truly help make Kazakhstan one of the leading digital economies in Central Asia,” said Thomson.

Reflecting on his previous experience in Kazakhstan, Thomson added:

"Kazakhstan is truly a leader for us in the field of digital payments and in what we do when experimenting with new technologies."

“Indeed, it’s about ensuring that every person in the country has access to digital technologies - whether it’s small businesses, individuals, or the government. And Kazakhstan is really ahead in this regard. That’s why we’re implementing many innovations there as best practices to demonstrate how the world is evolving in terms of digital payments,” added Thomson.

The C5+1 Leaders’ Summit, scheduled for November 6, 2025, will bring together the presidents of the US and five Central Asian nations to discuss critical minerals, energy, and infrastructure cooperation, setting the stage for further regional collaboration.