A payment processing authorization is a green light issued by the financial oversight authority for facilitating operations within the financial ecosystem or performing functional, data-related, and other technical capabilities associated with monetary transactions. A company holding such a license is empowered to engage in payment operations, fund transfers, and other commercial activities.

To obtain a payment operator license in Kazakhstan, it is typically required to provide documents verifying the company's compliance with certain requirements such as organizational structure, financial stability, security systems, and other standards.

The article discusses the legal aspects that need to be addressed when applying for a payment operator license in Kazakhstan.

For what reasons do payment operators choose Kazakhstan?

Payment operators often choose Kazakhstan for business for several reasons:

  • The Republic of Kazakhstan boasts a stable and burgeoning economy, rendering it an appealing business destination. A resilient political leadership and enhancements in the business climate foster convenience in conducting business within the nation.
  • A vast market. Kazakhstan represents a substantial market with a population exceeding 18 million people. This fosters opportunities for business and potentially a sizable customer base.
  • Economic growth. The country has achieved high rates of economic growth in recent years. The growth of the middle class and the increase in purchasing power of the population create favorable conditions for the development of entrepreneurship.
  • Advanced infrastructure. Kazakhstan boasts a sophisticated telecommunications and financial infrastructure, facilitating seamless payment transactions and fostering the growth of online businesses.
  • Government support. In this jurisdiction, electronic commerce and the digital economy are actively flourishing. The country's government provides various financial and tax incentives to attract and sustain business.

These factors contribute to making Kazakhstan an attractive place to obtain a payment operator license.

How to obtain a payment operator license in Kazakhstan?

To obtain a payment operator license in Kazakhstan from the competent authority (the National Bank), several procedural steps must be followed. Here are the primary stages of the process:

  • Requirements from the organization. Establishment of a legal entity in Kazakhstan, designated as a payment operator. It is crucial to guarantee that the establishment adheres to all stipulations outlined by the National Bank of the nation, encompassing registered capital and ownership arrangement.
  • Preparation of documents for licensing procedures. The document package may include an application for obtaining a license as a payment service provider, articles of association, financial statements, a business plan, AML/CTF and KYC policies, and other required documents upon request by the competent authority.
  • The application will be evaluated by the National Bank. At this point, additional information or documents may be required. Additionally, a company review for compliance with requirements and security standards may be conducted.

Upon successful adjudication of the application, the applicant will be granted a payment operator license. A judicious approach would entail consultations with legal counsel, affording the client the opportunity to glean further granular details concerning the intricacies of acquiring a payment operator license in Kazakhstan.

What documents are needed to obtain a payment license?

A license for a payment system operator in Kazakhstan is issued exclusively to legal entities registered within the country. For the license application to be approved, it is necessary to prepare an extensive list of documents, among which:

  • A statement in the form prescribed by the National Bank, which must include identification details of the executive or members of the executive body, copies of their diplomas, and a document confirming their employment in accordance with the provisions of the Labor Code of Kazakhstan.
  • Copies of constituent documents (Charter, registration certificate, etc.).
  • Copies of identity documents of persons authorized to act on behalf of the company.
  • Documents confirming the availability of sufficient financial security.
  • Business plan, including a description of the services offered and the business model.
  • A complete description of the technologies used in the work.
  • Agreements with technical service providers and payment agents.
  • Documentation and policies for ensuring the security of the payment platform.
  • Payment activity reports or other relevant reporting for recent periods.

The rules of the payment organization must contain:

  • Services overview: details on account management, transactions, data transmission.
  • Payment terms: guidelines for account initiation, termination, and transaction handling.
  • Transaction schedule: timing and conditions for payment processing.
  • Tariffs & commissions: fees for services rendered.
  • Client rights & duties: obligations and entitlements of clients.
  • Security measures: safeguards for customer data and confidentiality.
  • Dispute resolution: process for handling complaints and disputes.
  • Licensing & registration: information on regulatory compliance.
  • Legal requirements: mandatory regulations for payment institutions.
  • Rule changes: notification process for organizational rule updates.

This is just a general list of the main aspects that should be included in the rules of a payment organization.

Payment service provider license in Kazakhstan: types of services

Payment operators offer a wide range of services, some of the main ones include:

  • accepting fiat money to make a payment without opening a bank account for the sender of the money;
  • sale (distribution) of E-money and payment cards;
  • accepting and processing payments using electronic money;
  • processing payments initiated by the client via email form, and transfer of data on such transactions to a bank or organization that can conduct certain types of banking. Operations to make a payment/transfer or accept money for these payments.

The establishment of payment operators requires a certain capital. According to national legislation, the minimum capital required for creating a payment operator is:

  • 50 million KZT for services in the 1st subparagraph.
  • 30 million KZT for services in the 2nd subparagraph.
  • 40 million KZT for services in the 3rd subparagraph.
  • 30 million KZT for services in the 4th subparagraph.

It's important to remember that the capital requirement can fluctuate based on the scale and nature of the payment operator's intended operations. If the organization with a payment operator license in the Republic of Kazakhstan plans to offer a combination of payment services, the minimum capital threshold will be determined accordingly:

  • 100 million KZT for services in subcategories 1, 2, 3, and 4.
  • 90 million KZT for services in subcategories 1, 2, and 3.
  • 80 million KZT for services in subcategories 1, 2, and 4.
  • 100 million KZT for services in subcategories 1, 3, and 4.
  • 70 million KZT for services in subcategories 2, 3, and 4.
  • 50 million KZT for services in subcategories 1 and 2.
  • 90 million KZT for combined services in subcategories 1 and 3.
  • 80 million KZT for combined services in subcategories 1 and 4.
  • 40 million KZT for combined services in subcategories 2 and 3.
  • 30 million KZT for combined services in subcategories 2 and 4.
  • 70 million KZT for services in subcategories 3 and 4.

Important. Regulators and licensing authorities may impose additional capital requirements on payment processors.


Registering as a payment system operator entails a meticulous process, necessitating familiarity with the legislative landscape of the chosen jurisdiction (in this instance, the Republic of Kazakhstan), including staying abreast of any legislative revisions. Hence, it's advisable to seek guidance from a proficient specialist to obtain thorough advice and compile a comprehensive set of essential documents for the licensing procedures.

TK Deal boasts a team of seasoned experts who can provide in-depth guidance on Kazakhstani payment service regulations. They can assist you in selecting the optimal corporate structure, draft all necessary policies and documentation, and offer unwavering support throughout the payment operator licensing procedure.