Kaspi.kz Announces Partnership with Alipay+ for QR payments across China

Joint Stock Company Kaspi.kz (“Kaspi.kz”) (Nasdaq: KSPI), which operates the Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants, today announces a new partnership with Alipay + to enable Kaspi.kz customers to pay using the Kaspi.kz Super App and QR code, throughout China.

Partnership with Alipay+

When travelling in China, Kazakhstanis no longer need to take cash or a card with them. Now, using the Kaspi.kz Super App, purchases in Chinese stores, cafes, taxis and more than 80 million points throughout China can be paid for by QR code.

CEO and Co-founder of Kaspi.kz Mikhail Lomtadze, commented:

“Many Kazakhstanis work, study and vacation in China. We constantly receive feedback from our customers - how nice it would be to pay for purchases abroad as easily as in Kazakhstan. We are happy to announce, that in partnership with AliPay+, we have launched a new service. Now with the Kaspi.kz Super App our customers can pay for almost any goods at retail outlets throughout China. We thank AliPay+ for their partnership and each of our customers - for being with us!"

Venetia Lee, Greater China General Manager of Ant International, commented:

“Alipay+ is thrilled to announce our partnership with the first and leading e-wallet Super App in Kazakhstan. Together we will enable a seamless mobile payment experience in the Chinese mainland for the many Kaspi.kz mobile-savvy users.” She added that, “While this partnership will enhance the travel and shopping experience for Kaspi.kz users, we will continue to build on our innovative technology and service excellence to bring people and communities closer through travel, trade and commerce.”

To pay for purchases, Kaspi.kz customers just need to open the Kaspi.kz app, select the AliPay+ service and let the seller scan their QR code or alternatively buyers can scan the seller's QR code.

About Kaspi.kz

Kaspi.kz’s mission is to improve people’s lives by developing innovative mobile products and services. To deliver upon this, we operate a unique, two-sided Super App model – Kaspi.kz Super App for consumers and Kaspi Pay Super App for merchants. Through these Super Apps, consumers and merchants can access our leading Payments, Marketplace and Fintech Platforms. All our services are designed to be highly relevant to users’ everyday needs and enable consumers and merchants to connect and transact using our proprietary payments network. The combination of a large, highly engaged consumer and merchant base, best-in-class, highly relevant digital products and a capex lite approach has resulted in strong top-line growth and a profitable business model, and has enabled us to continue innovating, delighting our users and fulfilling our mission.

Kaspi.kz has been listed on Nasdaq since January 2024.

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