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Astana, Kazakhstan • 22 October, 2022 | 11:20
1 min read

New Fintech Service to Launch in Kazakhstan in 2022

Will the company compete with popular local fintech apps?

Canva
Canva

On October 14, Samsung Electronics announced the introduction of Samsung Wallet platform to Kazakhstan and 12 new markets, QazMonitor reports citing the press service of the company.

The app allows “to organize and access important documents and identifications — from bank cards and digital keys to travel passes, driver’s licenses and student IDs”. However, Samsung clarifies that the availability and launch of features may vary by market.

Even though the Korean company promises to deliver a unique set of features for Galaxy devices (combining Samsung Pay and Samsung Pass functionality), the service will partially see strong competition at the local market. Several popular fintech apps in Kazakhstan already allow storing boarding passes and even give access to national IDs and eGov-issued certificates.

Will Samsung put emphasis on promoting storing loyalty cards and passwords instead? “We have worked closely with our trusted partners and developers to enrich our Wallet experience,” said Jeanie Han, EVP and Head of Digital Life Team at Mobile eXperience Business, Samsung Electronics. Hence, the answer will depend on who Samsung will partner with in Kazakhstan.

When will the technology come to Kazakhstan?

The company promised to introduce Wallet in 2022 in Kazakhstan, Bahrain, Denmark, Finland, Kazakhstan, Kuwait, Norway, Oman, Qatar, South Africa, Sweden, Switzerland, Vietnam, and UAE. The exact date has not been announced yet.

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