Within the framework of the Astana Economic Forum, the international payment system MasterCard and the Astana International Financial Centre (AIFC) have signed an agreement on cooperation for introduction innovative payment technologies and development a cashless economy in the Republic of Kazakhstan.
The document was signed by the Head of Mastercard in Russia, Kazakhstan, Belarus and Armenia Alexey Malinovskiy and the Governor of the Astana International Financial Centre Kairat Kelimbetov. The partners intend to actively develop the innovative infrastructure of the financial centre, including the use of modern payment technologies. The signing ceremony took place at the Palace of Independence in Astana during the session of the Astana Economic Forum devoted to the impact of technology on the development of financial centres.
"The spread of modern payment technologies gives new opportunities for entrepreneurs, financial institutions and the government. The solutions that MasterCard offers are applied in various fields: city and region management, transportation, service and hospitality, tourism business, and education. We hope that the partnership between MasterCard and the Astana International Financial Centre will become an important step towards the development of cashless economy in Kazakhstan," Alexey Malinovskiy, Head of Mastercard in Russia, Kazakhstan, Belarus and Armenia commented.
The Governor of the Astana International Financial Centre Kairat Kelimbetov said: "We welcome cooperation with MasterCard, through which we gain access to expertise and international experience in creating a technology and efficient environment for residents of the financial centre. This will contribute to the successful development of the AIFC, which will become a good example of an innovative infrastructure for smart cities to be followed in the future throughout Kazakhstan."
Financial literacy of the population plays a pivotal role for a joint work aimed at ensuring the availability of financial services. The parties plan to work on the creation of appropriate educational programmes and campaigns in order to increase the level of financial literacy in Kazakhstan.
In addition, it is planned that MasterCard will support the creation of the accelerator of the AIFC FinTech start-ups, bringing its unique global experience in this field.
MasterCard has been working in Kazakhstan for 22 years and consistently develops the cashless economy of the state. The payment system cooperates with the largest banks, trade and service enterprises and other market participants, in order to introduce innovative payment solutions on Kazakhstan’s market. Only in recent years, the number of banks participating in the payment system has more than doubled.
MasterCard continues attracting new banks in terms of introduction of technological and product innovations.
AIFC. In December 2015 President of the Republic of Kazakhstan Nursultan Nazarbayev signed the Constitutional law “On the Astana International Financial Centre” (AIFC). The aim of the AIFC is to form a leading international centre of financial services. For the first time in the post-Soviet region, Common law framework will be introduced in the AIFC. English shall be the official language of the AIFC.
The objectives of the AIFC are to attract investment into the economy through the establishment of an attractive environment for investment in the financial services, to develop local capital markets, ensuring their integration with the international capital markets, and to develop markets for insurance and banking services and for Islamic financing in the Republic of Kazakhstan.
Mastercard (NYSE: MA) http://www.mastercard.com/kz/consumer/index.html – A technology company operating in the global payment industry. We manage the world's fastest payment processing network that connects consumers, financial institutions, trade organizations, government and business structures in more than 210 countries and territories. Products and solutions MasterCard allows you to more easily, safely and efficiently solve everyday problems, for example, to make purchases, travel, conduct business and manage finances.
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