NUR-SULTAN – The money transfer volume within Kazakhstan reached 18.5 billion tenge (US$44.76 million) in the first five months of 2020, which is 18.7 percent more than in the same period of 2019, as reported by ranking.kz.
The number of transactions over the period increased 3.1 times, to 219,800, which in turn more than halved the average check per transfer to 84,200 tenge (US$203.8).
Although the transaction numbers through Russia-based Zolotaya Korona money transfer service have had a 22.4 percent decrease, the company still led with a total transaction volume of 5.3 billion tenge (US$12.83 million). The number of transfers with Zolotaya Korona was halved to 8,900, which increased the average check per transfer from 326,800 tenge (US$790.8) to 601,100 tenge (US$1,454.6).
Western Union had the second biggest transactions of 840.9 million tenge (US$2.03 million), which is an increase of 37.4 percent. The transaction number doubled and reached 6,300, which reduced the average check of transfer from 218,600 (US$529) to 133,500 tenge (US$323).
The Russian Contact money transfer system had the largest average check per transfer. The average check was 1.04 million tenge (US$2,516.6), 3.5 times more compared January-May 2019.
The number of transactions in May doubled to 47,900. The money transfer volume reached 4.4 billion tenge (US$10.65). This is 24.9 percent more money transferred than in April and 1.7 percent more than in May 2019. The average volume of the transaction bill was 91,100 tenge (US$220.5), 16.3 percent more than in April, but twice as less as compared to the average bill in May 2019.