Money transfers dropped by about half in Kazakhstan
Kazakh citizens’ interest in money transfer systems is diminishing as the volume of funds transferred within the country fell immediately by 42% per year, Ranking.kz informs.
The volume of money transfers through money transfer systems in the territory of Kazakhstan over the year has decreased by 41.5%, from 62.6 billion to 36.6 billion tenge in January-October 2019. A year earlier, the volume showed an increase of 3.2-fold.
The number of transactions in January – October 2019 amounted to 192 thousand - 24.5% less than last year. As a result, the average check of one transfer decreased from 246.2 thousand to 190.8 thousand tenge.
Among the systems of international money transfers, the largest volume of transfers falls on the Zolotaya Korona system: 14.2 billion tenge, which, however, is 34.6% less than last year.
Despite a wide margin from the leader, Faster money transfer system comes second: 2 billion tenge, 17.6% less than a year earlier; third - Western Union: 1.5 billion tenge, 30.7% less than in January – October 2018.
Only Contact (by 2.5%, up to 1 billion tenge) and MoneyGram (by 14.5 times, up to 101.5 million tenge) showed an increase in the volume of transfers.
Zolotaya Korona (36.2 thousand), Faster (11.5 thousand) and Western Union (6.7 thousand) are also leaders in the number of transactions.
The only system from the TOP-3 that showed an increase in the number of transactions is Western Union: plus 9.8%. The growth was also shown by Contact (by 11.1%) and MoneyGram (by 15 times).
The largest average check of a single transfer via money transfer systems within Kazakhstan expectedly belongs to Zolotaya Korona: 393 thousand tenge (a year earlier - 176.8 thousand tenge), followed by MoneyGram with a check in 337.2 thousand tenge (a year earlier - 350 thousand tenge), and Contact with 271.9 thousand tenge (a year earlier - 294.7 thousand tenge).
