The National Bank of the Republic of Kazakhstan and the American transnational company Visa signed a Memorandum of Cooperation, which became the first agreement reached within the framework of the upcoming C5+1 summit and business conference “Tenth Anniversary of C5+1”, which will be held in Washington.
As reported by Kazinform agency, the memorandum was signed by Deputy Chairman of the National Bank of the Republic of Kazakhstan Akylzhan Baimagambetov and Sr. Vice President, Global Head of Government Relations at Visa Robert Thomson.
The representative of the National Bank emphasized that the agreement with Visa was signed to develop digital financial infrastructure and expand the use of modern digital payments in the Kazakh market.
“The memorandum is aimed at expanding cooperation in the field of the latest payment technologies and testing new digital solutions in the payment market. Key areas include: the creation of a competence center on the basis of the national payment corporation with the support of Visa for testing new solutions; dissemination and deepening of best practices in the field of digitalization, biometric identification systems in the financial market, improvement of cybersecurity activities and prevention of fraud in the financial market,” Baimagambetov said.