{"product_id":"kaspi-business-model-canvas","title":"Kaspi.kz JSC Business Model Canvas","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz Business Model Canvas: Editable guide to its two-sided Super App strategy\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eExplore the strategic logic behind Kaspi.kz JSC's two-sided Super App model - this concise Business Model Canvas maps customer segments, value propositions, key partners, and revenue streams to show how Kaspi connects consumers, merchants, and entrepreneurs through payments, marketplace, and fintech solutions; download the complete, editable Word \u0026amp; Excel files for a practical, section-by-section reference for investors, consultants, and founders.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eP\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eartnerships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrategic Retail and Service Merchants\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi.kz relies on a network of over 100,000 merchants- from big electronics chains to local grocers-who supply Marketplace inventory and services, driving selection for 15+ million monthly active users (2025). By integrating with Kaspi Pay, merchants tap into Kaspi's payment processing and reach, contributing to 2024 GMV of KZT 5.8 trillion and boosting conversion rates across the platform.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eGovernment and Public Sector Institutions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpkaspi.kz jsc integrates with kazakhstan government databases to embed e-government services in its super app enabling tax payments driver license renewals and social benefit access over million users completed public-service transactions via kaspi reducing processing time by this public-sector partnership cements the as an essential daily tool across supporting national digitalization targets expanding cross-border pilots central asia.\u003e\n\u003c\/pkaspi.kz\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics and Fulfillment Providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz partners with third-party logistics firms to supplement its in-house fleet, cutting last-mile times-average delivery SLA under 48 hours in major cities-and handling ~30-40% of Marketplace orders as of FY2024 (Kaspi annual report 2024). This network reduces returns and boosts NPS, keeping fulfillment costs down and supporting 20% year-on-year Marketplace GMV growth in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInternational Financial and Technology Vendors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eKazakhstan-based Kaspi.kz JSC partners with global cloud and cybersecurity vendors (AWS, Microsoft Azure, Cisco-level tools) and uses international software teams to scale services; as of FY2024 Kaspi processed over KZT 13.8 trillion (≈USD 31.5 billion) in payments, requiring enterprise-grade infrastructure.\u003c\/p\u003e\n\u003cp\u003ePartnerships with Visa and Mastercard enable cross-border flows and card acceptance in 2024, supporting Kaspi Pay's growing merchant base (over 1.2 million merchants by 2024) and reducing transaction failure rates below 0.5%.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eFY2024 payments: KZT 13.8 trillion ≈ USD 31.5B\u003c\/li\u003e\n\u003cli\u003eMerchants (2024): \u0026gt;1.2M\u003c\/li\u003e\n\u003cli\u003eTransaction failure rate: \u0026lt;0.5%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegional Expansion Partners\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eKaspi.kz JSC has pushed international growth into 2025, using local partners-especially in Turkey after the Hepsiburada deal-to provide market know-how, regulatory compliance, and logistics networks so the Super App model can be copied across borders.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eHepsiburada acquisition closed 2024, Turkey users ~25M (2025 est.)\u003c\/li\u003e\n\u003cli\u003eLocal partners cut time-to-market by ~40% vs solo entry\u003c\/li\u003e\n\u003cli\u003ePartners manage licensing, payment rails, and fulfillment\u003c\/li\u003e\n\u003cli\u003eStrategy aims to grow international GMV to ~20% of total by 2026\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Partnerships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz: 15M+ users, KZT13.8T payments \u0026amp; KZT5.8T GMV - fintech-marketplace scale\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz relies on 1.2M+ merchants and 100k+ marketplace sellers, processing KZT 13.8T (≈USD 31.5B) in payments FY2024 and KZT 5.8T GMV in 2024, with transaction failures \u0026lt;0.5% and 15M+ monthly active users (2025).\u003c\/p\u003e\n\u003cp\u003eKey partners: Visa\/Mastercard for rails, AWS\/Azure for infra, third-party logistics handling 30-40% of orders, government integrations enabling 8M public-service transactions in 2024.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue (FY2024\/2025)\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTotal payments\u003c\/td\u003e\n\u003ctd\u003eKZT 13.8T (~USD 31.5B)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarketplace GMV\u003c\/td\u003e\n\u003ctd\u003eKZT 5.8T (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMerchants \/ Sellers\u003c\/td\u003e\n\u003ctd\u003e1.2M \/ 100k+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMonthly active users\u003c\/td\u003e\n\u003ctd\u003e15M+ (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGovt transactions\u003c\/td\u003e\n\u003ctd\u003e8M (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDelivery share by 3PL\u003c\/td\u003e\n\u003ctd\u003e30-40%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eA concise, investor-ready Business Model Canvas for Kaspi.kz JSC detailing customer segments, value propositions, channels, revenue streams, key activities\/resources\/partners, cost structure, and metrics, reflecting real-world fintech-commerce operations and competitive advantages to support presentations, funding discussions, and strategic analysis.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eHigh-level view of Kaspi.kz JSC's business model with editable cells to quickly map its payments, marketplace, and fintech integrations as a pain-point reliever.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eA\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ectivities\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSuper App Development and Maintenance\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eContinuous innovation of Kaspi.kz and Kaspi Pay is core: engineering teams deploy weekly releases, added 120+ features in 2024, and sustain sub-200 ms median page load times for ~10 million daily active users to keep engagement high.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eBig Data Analytics and Credit Scoring\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKazakhstan-based Kaspi.kz JSC processes billions of transactions and behavioral events annually to train proprietary credit scoring models that enable near-instant loan approvals and personalized offers; in 2024 its fintech arm underwrote over 6 billion tenge daily on average, keeping consumer delinquency below 2.5%.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and Ecosystem Engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz runs targeted campaigns to drive user acquisition and push new services; in 2024 the group reported 23.2m monthly active users and QR payment volumes rose 38% YoY, boosting transaction frequency. By promoting bill payments and QR use-now \u0026gt;45% of retail transactions-Kaspi raises customer lifetime value and cements its Super App moat as the primary gateway for financial services.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics and Postomat Network Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eManaging Kaspi's delivery infrastructure-over ~5,000 Kaspi Postomats nationwide as of Dec 31, 2024-covers scheduling, preventive maintenance, and targeted expansion to improve pickup density for Marketplace buyers.\u003c\/p\u003e\n\u003cp\u003eEfficient logistics cut average last-mile time to under 24 hours in major cities and lowered fulfillment cost per parcel by an estimated 12% in 2024, boosting unit economics for the platform.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~5,000 Postomats (Dec 31, 2024)\u003c\/li\u003e\n\u003cli\u003eLast-mile \u0026lt;24h in metro areas\u003c\/li\u003e\n\u003cli\u003eFulfillment cost down ~12% (2024)\u003c\/li\u003e\n\u003cli\u003eFocus: scheduling, maintenance, expansion\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eRegulatory Compliance and Risk Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eKaspi.kz JSC spends heavily on compliance: in 2024 the group reported AML, compliance and security costs rising by ~22% year-on-year to an estimated KZT 35 billion, reflecting continuous transaction monitoring across 14 million monthly active users.\u003c\/p\u003e\n\u003cp\u003eThese controls-real-time transaction screening, GDPR-like data protections, and SOC-certified infrastructure-sustain regulator trust and lower operational risk, keeping non-compliance fines near zero in 2023-2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~KZT 35bn compliance\/security spend (2024 est.)\u003c\/li\u003e\n\u003cli\u003e14M monthly active users monitored\u003c\/li\u003e\n\u003cli\u003eReal-time transaction screening and SOC-certified systems\u003c\/li\u003e\n\u003cli\u003eZero major fines reported 2023-2024\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Activities-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz: 120+ features, sub-200ms for 10M DAU, ~KZT6bn\/day, \u0026lt;2.5% delinquency\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz focuses on rapid product releases (120+ features in 2024) and sub-200ms median loads for ~10m DAU, processes billions of events to underwrite ~KZT 6bn\/day with \u0026lt;2.5% delinquency, operates ~5,000 Postomats and \u0026lt;24h last-mile in cities, and spent ~KZT 35bn on compliance in 2024.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eFeatures released\u003c\/td\u003e\n\u003ctd\u003e120+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMedian load\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;200 ms\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDaily active users\u003c\/td\u003e\n\u003ctd\u003e~10m\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnderwritten\/day\u003c\/td\u003e\n\u003ctd\u003e~KZT 6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDelinquency\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;2.5%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePostomats\u003c\/td\u003e\n\u003ctd\u003e~5,000\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLast-mile\u003c\/td\u003e\n\u003ctd\u003e\u0026lt;24h (cities)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCompliance spend\u003c\/td\u003e\n\u003ctd\u003e~KZT 35bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eFull Version Awaits\u003c\/span\u003e\u003cbr\u003e Business Model Canvas\u003c\/h2\u003e\n\u003cp\u003eThe Business Model Canvas preview you see for Kaspi.kz JSC is the exact, live section from the final deliverable-not a mockup or sample-and when you purchase you'll receive this same comprehensive document in full, ready-to-edit Word and Excel formats.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eesources\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eIntegrated Super App Platform\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe proprietary Kaspi.kz integrated super app platform is the central hub linking Payments, Marketplace and Fintech, serving over 11.5 million active users as of FY2024 and handling \u0026gt;2.4 million daily transactions; years of in-house software and UX work let it host payments, loans, e‑commerce and investments in one interface, a key moat supporting 2024 revenue of KZT 538.7bn.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Proprietary Data Sets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi.kz holds transaction and behavioral records on ~12 million active users (2024), covering payments, purchases, and credit history across its Super App; this feed trains ML models to lift approval accuracy and reduce default rates-Kaspi reported 24% YoY growth in fintech revenue in 2024, reflecting better risk pricing.\u003c\/p\u003e\n\u003cp\u003eKaspi uses these datasets to personalize offers and marketing (click-throughs up to 2x in pilot campaigns) and to underwrite loans with lower loss rates; the data volume and breadth form a strong moat against new entrants in Kazakhstan and neighboring markets.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eStrong Brand Equity and Trust\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe Kaspi.kz brand is among Kazakhstan's top household names, with 2024 data showing over 13.4 million active users and 70% brand awareness in urban adults, cutting customer acquisition costs by an estimated 20% versus fintech peers and driving retention rates above 75%; this trust accelerates uptake of new launches-Kaspi Pay and Kaspi Plus saw 25-40% month-one adoption in 2023 product rollouts.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysical Infrastructure and Postomat Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe extensive Kaspi Postomat network-over 3,000 automated lockers and ~1,200 physical service points as of Q4 2025-gives Kaspi.kz JSC a tangible presence that complements its 20+ million active users, speeding e-commerce logistics and enabling in-person banking and order pickup.\u003c\/p\u003e\n\u003cp\u003eThis hybrid digital-plus-physical model raises competitors' capital and operational barriers, improving customer convenience and reducing last-mile costs by an estimated 12% per parcel.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e3,000+ Postomats (Q4 2025)\u003c\/li\u003e\n\u003cli\u003e~1,200 physical service points\u003c\/li\u003e\n\u003cli\u003e20+ million active users\u003c\/li\u003e\n\u003cli\u003e~12% estimated last-mile cost savings\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSpecialized Human Capital\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpkaspi.kz jsc relies on a specialized human capital pool of engineers data scientists and analysts headcount estimate who build its super app algorithms ux driving digital revenues kzt yoy growth.\u003e\n\u003cp class=\"lst_crct\"\u003e\n\u003c\/p\u003e\u003cli\u003e~4,500 tech staff (2025 est.)\u003c\/li\u003e\n\u003cli\u003e2024 digital revenue KZT 310bn, +18% YoY\u003c\/li\u003e\n\u003cli\u003eR\u0026amp;D and hiring key to maintaining 70%+ MAU engagement\u003c\/li\u003e\n\n\u003c\/pkaspi.kz\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Resources-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz Super App: 20M+ users, KZT 538.7bn revenue, ML-driven 12% last-mile savings\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz's Super App, 20+ million active users (2025 est.), and 3,000+ Postomats anchor payments, marketplace and fintech, driving KZT 538.7bn revenue in 2024 and KZT 310bn digital revenue; proprietary data (~12-13.4M active user records) and ~4,500 tech staff sustain ML underwriting gains and ~12% last-mile cost savings.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eActive users (2025 est.)\u003c\/td\u003e\n\u003ctd\u003e20+ million\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRevenue (FY2024)\u003c\/td\u003e\n\u003ctd\u003eKZT 538.7bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital revenue (FY2024)\u003c\/td\u003e\n\u003ctd\u003eKZT 310bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePostomats (Q4 2025)\u003c\/td\u003e\n\u003ctd\u003e3,000+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTech staff (2025 est.)\u003c\/td\u003e\n\u003ctd\u003e~4,500\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eData-backed users (2024)\u003c\/td\u003e\n\u003ctd\u003e~12-13.4 million\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLast-mile cost saving\u003c\/td\u003e\n\u003ctd\u003e~12%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eV\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ealue Propositions\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOne Stop Shop for Daily Life\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe Kaspi.kz super app bundles payments, e‑commerce, and banking in one interface, letting 13.6 million monthly active users (2025) pay bills, buy groceries, and book travel without switching apps, cutting transaction time by ~40% versus using separate services. This all-in-one flow increased Kaspi's 2024 GMV to KZT 8.2 trillion and raises customer stickiness, with 84% of retail revenue now from integrated app services.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInstant Financial Services and BNPL\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi.kz offers instant credit and Buy Now Pay Later (BNPL) at checkout, online and in-store, with approvals in seconds-driving higher basket sizes and conversion; Kaspi reported H1 2025 loan originations of KZT 1.2 trillion and BNPL-enabled Marketplace GMV up 28% YoY to KZT 480 billion. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSeamless and Secure Payments\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz offers fast, secure payments via QR, mobile transfers, and bill integrations, processing over 1.2 billion transactions and KZT 5.8 trillion in 2024, cutting cash\/card use in many retail and P2P scenarios; strong AES\/TLS encryption, biometric auth, and fraud monitoring lifted user trust, reflected in 22.4 million active users and a 78% monthly retention rate in 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEfficient E-commerce with Fast Delivery\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThe Kaspi.kz marketplace links consumers to over 2.5 million SKUs across Kazakhstan and Uzbekistan at competitive prices, supported by Kaspi Postomats and an integrated logistics network that delivered 120 million orders in 2024, reducing average last-mile time to 24-48 hours.\u003c\/p\u003e\n\u003cp\u003eThis reliable fulfillment-reflected in 78% repeat-buyer rate and 2024 marketplace GMV of KZT 1.2 trillion-makes Kaspi the preferred online shopping destination in its primary markets.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2.5M SKUs available\u003c\/li\u003e\n\u003cli\u003e120M orders delivered in 2024\u003c\/li\u003e\n\u003cli\u003e24-48h average last-mile\u003c\/li\u003e\n\u003cli\u003e78% repeat-buyer rate\u003c\/li\u003e\n\u003cli\u003e2024 marketplace GMV KZT 1.2T\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEmpowerment of Small Businesses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eThrough Kaspi Pay, Kaspi.kz gives SMEs access to payment processing, POS, invoicing, and consumer-credit integration, reaching over 11 million active buyers on Kaspi.kz as of 2025 and handling ~90% of the group's Q4 2024 transaction volume.\u003c\/p\u003e\n\u003cp\u003eThe low upfront cost and integrated tools let merchants scale digitally, creating a loyal merchant base that increased Kaspi's merchant count by ~35% year-on-year in 2024, boosting platform GMV and repeat transactions.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e11 million active buyers (2025)\u003c\/li\u003e\n\u003cli\u003e~90% of Q4 2024 transaction volume via Kaspi Pay\u003c\/li\u003e\n\u003cli\u003eMerchant count +35% YoY (2024)\u003c\/li\u003e\n\u003cli\u003eLow upfront cost, POS, invoicing, consumer-credit\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Value-Propositions-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz: One‑app ecosystem-22.4M users, KZT8.2T GMV, 13.6M MAU, booming BNPL\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz bundles banking, payments, marketplace and BNPL in one app, serving 22.4M users (2024) and 13.6M MAU (2025), driving KZT 8.2T GMV (2024) and KZT 1.2T marketplace GMV; 120M orders (2024), 24-48h last‑mile, 78% repeat buyers, H1 2025 loan originations KZT 1.2T, BNPL marketplace GMV KZT 480B, Kaspi Pay reaches 11M buyers (2025).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eUsers (2024\/2025)\u003c\/td\u003e\n\u003ctd\u003e22.4M \/ 13.6M MAU\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eGroup GMV (2024)\u003c\/td\u003e\n\u003ctd\u003eKZT 8.2T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarketplace GMV (2024)\u003c\/td\u003e\n\u003ctd\u003eKZT 1.2T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eOrders (2024)\u003c\/td\u003e\n\u003ctd\u003e120M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLoan originations H1 2025\u003c\/td\u003e\n\u003ctd\u003eKZT 1.2T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Relationships\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eHigh Frequency Digital Engagement\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKazpi.kz JSC keeps daily ties via its Super App, with 2024 reporting 14m monthly active users and average 18+ sessions per user weekly, so payments, loans, and balance checks make the app central to users' routines.\u003c\/p\u003e\n\u003cp\u003eHigh-frequency use boosts cross-sell: in 2024 Kaspi's ecosystem delivered 52% of GMV from repeat customers, creating steady up-sell paths into fintech, e‑commerce, and payments.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonalized Data Driven Interactions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi.kz uses behavioral analytics and machine learning to deliver personalized product recommendations and targeted promos, driving a 28% higher click-through rate and a reported 15% lift in monthly transacting users in 2024 vs 2023. This tailored approach matches offers to individual needs, improving retention and strengthening emotional loyalty across Kaspi's 15.6 million active customers as of Q4 2024.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAutomated and Self Service Support\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz runs a digital-first support model: in-app AI chatbots and self-service tools handle ~85% of routine queries, cutting average resolution time to under 3 minutes and lowering support costs by ~30% in 2024;\u003c\/p\u003e\n\u003cp\u003efor escalations, Kaspi keeps a responsive human support tier-SLA median response under 2 hours in 2024-to maintain NPS near 70 and high retention.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLoyalty Rewards and Kaspi Bonus\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eThe Kaspi Bonus program drives ecosystem retention by giving cashback and rewards for payments, loans, and marketplace purchases; in 2024 Kaspi reported over 20 million active bonus users, with bonuses generating ~12% of Marketplace GMV via repeat spend.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eBonuses redeemable across Marketplace, increasing repeat purchase frequency\u003c\/li\u003e\n\u003cli\u003eCreates spending-earning loop, raising monthly retention and stickiness\u003c\/li\u003e\n\u003cli\u003eKey retention lever: boosts customer lifetime value and cross-sell rates\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTrust and Security Centric Relationship\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eBy prioritizing transaction security and user-data privacy, Kaspi.kz has built deep trust-reflected in 2024 KZT 1.2 trillion in processed payments and a 72% net promoter score (NPS) for trust-related metrics.\u003c\/p\u003e\n\u003cp\u003eTransparent fees and monthly security updates boost retention, enabling expansion into government services and KZT 400+ billion in large-scale lending by end-2024.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e72% NPS on trust\u003c\/li\u003e\n\u003cli\u003eKZT 1.2T payments 2024\u003c\/li\u003e\n\u003cli\u003eKZT 400B+ lending 2024\u003c\/li\u003e\n\u003cli\u003eMonthly security disclosures\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Relationships-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi Super App: 15M MAU, KZT1.2T Payments, 52% Repeat GMV, 20M Bonus Users\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz drives daily engagement via its Super App (15.6M MAU, 14M reported 2024; 18+ sessions\/week), fueling 52% GMV from repeat customers and KZT 1.2T payments in 2024; retention aided by Kaspi Bonus (20M active users) and ML personalization (28% higher CTR, +15% MTU YoY).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMAU\u003c\/td\u003e\n\u003ctd\u003e14-15.6M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSessions\/week\u003c\/td\u003e\n\u003ctd\u003e18+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eRepeat GMV\u003c\/td\u003e\n\u003ctd\u003e52%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePayments processed\u003c\/td\u003e\n\u003ctd\u003eKZT 1.2T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eKaspi Bonus users\u003c\/td\u003e\n\u003ctd\u003e20M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNPS (trust)\u003c\/td\u003e\n\u003ctd\u003e72%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003ehannels\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz Consumer Super App\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eThe Kaspi.kz consumer super app is the primary channel to reach individuals, acting as the gateway to Kaspi.kz JSC's ecosystem with 13.6 million monthly active users as of Dec 31, 2025 and ~KZT 6.2 trillion annual TPV (2025), enabling transactions, product discovery, and account management from one intuitive, fast interface.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi Pay Super App for Merchants\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi Pay Super App for Merchants is the primary interface for 1.2M+ Kazakh businesses to accept payments, manage inventory, and access merchant loans and analytics; in 2024 Kaspi reported 45% YoY growth in merchant transactions, underlining the app's role in scaling Payments and Marketplace supply. The app also links to Kaspi Bank lending products-average merchant loan size ~KZT 1.8M in 2024-helping onboard SMBs and deepen ecosystem revenue.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eExtensive Postomat and Locker Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz JSC's Postomat and locker network, placed in supermarkets and malls, handles ~38% of Kaspi.kz e‑commerce pickups (2025), enabling 24\/7 contactless collection and fitting busy consumer schedules. These lockers cut last‑mile costs by an estimated 22% per parcel versus home delivery, lowering delivery complexity and improving fulfillment throughput.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSocial Media and Digital Marketing\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eKaspi.kz JSC uses Facebook, Instagram, TikTok, VK, and programmatic ad networks to promote app downloads and announce features; in 2024 digital channels helped drive a 12% YoY growth in active users and supported promo campaigns that lifted transactions per user by 8%.\u003c\/p\u003e\n\u003cp\u003eTargeted ads let Kaspi measure cost-per-acquisition precisely-2024 median CPA ~$6.50 for app installs-and optimize ROAS via A\/B tests and attribution across mobile and web.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003ePlatforms: Facebook, Instagram, TikTok, VK, programmatic\u003c\/li\u003e\n\u003cli\u003e2024 impact: +12% active users, +8% transactions\/user\u003c\/li\u003e\n\u003cli\u003eMedian 2024 CPA: $6.50 per install\u003c\/li\u003e\n\u003cli\u003eUse: targeted campaigns, feature launches, promo awareness\u003c\/li\u003e\n\u003cli\u003eMeasurement: ROAS, CPA, A\/B testing, multi-touch attribution\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePhysical Branch and Service Network\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eKaspi.kz JSC runs a digital-first model but maintains ~230 physical branches and service points (2024), handling complex services, in-person onboarding, and advisory for high-value clients and rural segments where 28% of users prefer face-to-face banking.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~230 branches\/service points (2024)\u003c\/li\u003e\n\u003cli\u003eUses branches for complex transactions and wealth advice\u003c\/li\u003e\n\u003cli\u003eSupports onboarding and KYC for segments preferring in-person\u003c\/li\u003e\n\u003cli\u003eBridges digital gap for 28% of customers\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Channels-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz: 13.6M MAU, KZT6.2T TPV, 1.2M merchants, Postomats cut last‑mile costs ~22%\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz super‑app (13.6M MAU, KZT 6.2T TPV 2025) + Kaspi Pay for 1.2M merchants (avg loan KZT 1.8M, 45% merchant tx growth 2024) drive transactions; Postomats handle ~38% e‑commerce pickups, cutting last‑mile costs ~22%; digital ads (2024 CPA ~$6.50, +12% MAU) plus ~230 branches serve complex\/KYC needs (28% prefer in‑person).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eChannel\u003c\/th\u003e\n\u003cth\u003eKey metric\u003c\/th\u003e\n\u003cth\u003e2024-25 data\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eSuper‑app\u003c\/td\u003e\n\u003ctd\u003eMAU \/ TPV\u003c\/td\u003e\n\u003ctd\u003e13.6M \/ KZT 6.2T (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMerchant app\u003c\/td\u003e\n\u003ctd\u003eMerchants \/ avg loan\u003c\/td\u003e\n\u003ctd\u003e1.2M+ \/ KZT 1.8M (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePostomats\u003c\/td\u003e\n\u003ctd\u003ePickup share \/ cost save\u003c\/td\u003e\n\u003ctd\u003e~38% \/ ~22% (2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eDigital ads\u003c\/td\u003e\n\u003ctd\u003eCPA \/ MAU growth\u003c\/td\u003e\n\u003ctd\u003e$6.50 \/ +12% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eBranches\u003c\/td\u003e\n\u003ctd\u003eLocations \/ preference\u003c\/td\u003e\n\u003ctd\u003e~230 \/ 28% prefer in‑person (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomer Segments\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTech Savvy Mass Market Consumers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eTech savvy mass-market consumers in Kazakhstan-roughly 6.5-7.0 million smartphone users of Kaspi's active base as of Q3 2025-use the Kaspi Super App for payments, shopping, banking, and loans; they drive \u0026gt;70% of daily transactions and are the primary source of high-frequency volume, valuing one-app convenience, instant payments, and frictionless credit decisions.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSmall and Medium Enterprises (SMEs)\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eSMEs and individual entrepreneurs use Kaspi Pay to modernize sales, needing fast card and QR payments, working capital loans, and online storefronts; by end-2024 Kaspi.kz served over 1.3 million merchant POS and e-commerce sellers, processing an estimated KZT 7.8 trillion in merchant volumes that year.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eOnline Shoppers and E-commerce Enthusiasts\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eOnline shoppers and e-commerce enthusiasts favor Kaspi.kz Marketplace for convenience, wide selection, and reliable delivery; in 2024 Kaspi.kz reported 28.4 million active marketplace users and a 22% year-on-year GMV (gross merchandise value) growth, driving higher basket sizes. Their above-average order value (Kaspi reported average ticket around 14,200 KZT in 2024) boosts marketplace commission revenue, accounting for a large share of Kaspi Mall commission income.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFrequent Travelers and Commuters\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eKaspi.kz targets frequent travelers and commuters via Kaspi Travel and in-app transit\/parking payments, letting users book flights, trains and pay buses or parking-raising monthly active user engagement and push transaction value during holidays and summer peaks.\u003c\/p\u003e\n\u003cp\u003eIn 2025 Kaspi reported app transactions up 18% YoY and payments volume of KZT 5.6 trillion H1 2025, with travel-related spikes representing an estimated 9-12% of peak-month volume.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eIn-app booking + transit payments\u003c\/li\u003e\n\u003cli\u003eBoosts MAU and per-user TPV\u003c\/li\u003e\n\u003cli\u003eSeasonal spikes: ~9-12% of peak-month volume\u003c\/li\u003e\n\u003cli\u003eH1 2025 payments volume: KZT 5.6 trillion\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eUnbanked and Underbanked Populations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eKazakhstan-focused Kaspi.kz targets unbanked and underbanked smartphone owners in Central Asia, offering instant digital account opening and payments that lower barriers to formal finance; as of 2024 about 35% of adults in Central Asia remained underbanked, giving Kaspi access to millions of potential customers.\u003c\/p\u003e\n\u003cp\u003eThe segment drives growth: Kaspi reported 17.8 million active users in 2024 and sees double-digit annual uptake in digital wallets as financial inclusion rises.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eSmartphone reach: ~70% national penetration (Kazakhstan, 2024)\u003c\/li\u003e\n\u003cli\u003eUnderbanked adults: ~35% (Central Asia, 2024)\u003c\/li\u003e\n\u003cli\u003eKaspi active users: 17.8M (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Customer-Segments-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi: 17.8M users, 1.3M+ merchants, KZT 5.6T TPV H1 2025 - transactions +18% YoY\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi's core customers are 17.8M active users (2024) - 6.5-7.0M tech‑savvy smartphone users driving \u0026gt;70% daily transactions, 1.3M+ merchants (2024) processing ~KZT 7.8T merchant volume (2024), and growing underbanked segment (35% of Central Asia adults, 2024) fueling digital wallet uptake; app TPV was KZT 5.6T H1 2025, transactions +18% YoY (2025).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eActive users (2024)\u003c\/td\u003e\n\u003ctd\u003e17.8M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eSmartphone active base (Q3 2025)\u003c\/td\u003e\n\u003ctd\u003e6.5-7.0M\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMerchants (2024)\u003c\/td\u003e\n\u003ctd\u003e1.3M+\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMerchant volume (2024)\u003c\/td\u003e\n\u003ctd\u003eKZT 7.8T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePayments TPV H1 2025\u003c\/td\u003e\n\u003ctd\u003eKZT 5.6T\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eApp transactions growth (2025)\u003c\/td\u003e\n\u003ctd\u003e+18% YoY\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eUnderbanked (Central Asia, 2024)\u003c\/td\u003e\n\u003ctd\u003e~35%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eost Structure\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTechnology and Infrastructure Costs\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpkaspi.kz jsc allocates roughly of operating expenses-about kzt billion in servers cloud and cybersecurity to keep the super app stable for millions daily users peak loads exceeding simultaneous transactions. continuous r spend annually funds new features low-latency infrastructure compliance with data-protection standards.\u003e\n\u003c\/pkaspi.kz\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLogistics and Fulfillment Expenses\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi.kz's logistics and fulfillment - running ~6,000 Kaspi Postomats (2025) and paying third‑party couriers - is a top cost driver, consuming an estimated 18-22% of Marketplace gross merchandise value-related costs in 2024; these investments secure faster delivery and lower return rates versus peers. Improving route optimization and Postomat uptime is central to holding e‑commerce margins steady.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketing and User Acquisition\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz JSC spends heavily on advertising, promotions and the Kaspi Bonus loyalty program-marketing and promo costs were 23.4 billion KZT in 2024 (up 12% YoY), seen as ecosystem investment to deepen network effects and increase GMV. Spend is optimized across digital and TV channels to keep CAC down and ROAS high; management targets marketing ROI above 4x and monitors cohort LTV\/CAC to justify the outlay.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePersonnel and Talent Management\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cpkaspi.kz jsc spends heavily on competitive salaries benefits and training for employees headcount est. with tech roles data scientists commanding market premiums of above national averages driving annual hr costs to an estimated as kaspi expands regionally human capital spend rises proportionally revenue growth is critical sustain fintech product innovation.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e~10,000 employees (2025 est.)\u003c\/li\u003e\n\u003cli\u003eAnnual HR cost est. $250-350M\u003c\/li\u003e\n\u003cli\u003eTech pay premium 20-40% vs national avg\u003c\/li\u003e\n\u003cli\u003eTalent spend rises with international expansion\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pkaspi.kz\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePayment Processing and Banking Operations\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003ePayment processing and banking operations incur clearing fees, card-network charges (Visa\/Mastercard), and compliance costs; Kaspi.kz reported payment and processing expenses of about KZT 38.6 bn in FY2024, reflecting scale in cross-border and network fees.\u003c\/p\u003e\n\u003cp\u003eMaintaining banking licenses and ~216 physical branches (2024) adds staff, rent, and audit costs; strong ops control is critical to keep non-interest expenses and regulatory capital ratios stable.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eKZT 38.6 bn payment\/processing expense (FY2024)\u003c\/li\u003e\n\u003cli\u003eFees to Visa\/Mastercard and cross-border networks\u003c\/li\u003e\n\u003cli\u003e~216 branches driving staff, rent, audit costs (2024)\u003c\/li\u003e\n\u003cli\u003eRegulatory compliance and capital requirements\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Cost-Structure-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz 2024 cost mix: Tech\/security KZT40-50bn, logistics ~18-22% GMV, HR ~$250-350M\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cpkaspi.kz cost base centers on tech kzt opex logistics of marketplace gmv marketing payment processing and hr for staff est.\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eItem\u003c\/th\u003e\n\u003cth\u003e2024\/25\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eTech \u0026amp; security\u003c\/td\u003e\n\u003ctd\u003eKZT 40-50bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLogistics\u003c\/td\u003e\n\u003ctd\u003e~18-22% GMV costs\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMarketing\u003c\/td\u003e\n\u003ctd\u003eKZT 23.4bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003ePayments\u003c\/td\u003e\n\u003ctd\u003eKZT 38.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eHR\u003c\/td\u003e\n\u003ctd\u003e$250-350M (~10,000)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/pkaspi.kz\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eR\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eevenue Streams\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eMarketplace Sales Commissions\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eKaspi.kz earns a percentage fee on each e-commerce transaction; commissions vary by category (typically 1-6%) and are a high-margin stream that scales with gross merchandise volume (GMV), which reached KZT 5.2 trillion in 2024. As merchant count and consumer trust rose-active buyers 13.4m in 2024-commission revenue grew faster than platform costs, making it a key profit driver.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eInterest Income from Fintech Products\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cpa major portion of kaspi.kz jscs revenue comes from interest and fees on consumer loans micro-loans bnpl in kaspi reported net income kzt billion about operating income. the firm high-speed data-driven credit scoring underpins rapid approvals for over million active users embedded point-of-sale app boosts take-up repeat purchases.\u003e\n\u003c\/pa\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTransaction and Payment Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz earns merchant fees for Kaspi Pay and QR payments; in 2024 merchant acquiring volume reached KZT 4.2 trillion, generating recurring processing income that offset free P2P transfers used to boost engagement.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eTravel and Value Added Service Fees\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eKaspi Travel earns commissions on flight and rail bookings and sells travel add-ons; in 2024 Kaspi Group reported 12% of marketplace GMV tied to travel and ticketing, contributing roughly KZT 15.6bn in service fees.\u003c\/p\u003e\n\u003cp\u003eMerchants pay for value-added services-premium search placement and data-analytics subscriptions-which in 2024 drove a 9% uplift in merchant ARPU and added ~KZT 8.4bn to fee income.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCommissions on bookings: ~KZT 15.6bn (2024)\u003c\/li\u003e\n\u003cli\u003eValue-added merchant fees: ~KZT 8.4bn (2024)\u003c\/li\u003e\n\u003cli\u003eTravel share of marketplace GMV: 12% (2024)\u003c\/li\u003e\n\u003cli\u003eMerchant ARPU uplift from premium services: +9% (2024)\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSaaS and Subscription Services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cpkaspi.kz jsc increasingly charges subscription and saas fees to merchants using advanced management tools in the kaspi pay ecosystem generating predictable recurring revenue that grew alongside merchant services-kaspi bank reported acquiring volume rising yoy kzt trillion underpinning higher take-rates. this model ties growth efficiency boosting retention as embed into daily operations.\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eRecurring fees = predictable revenue\u003c\/li\u003e\n\u003cli\u003e28% YoY merchant volume growth (2024)\u003c\/li\u003e\n\u003cli\u003eKZT 3.2 trillion merchant acquiring (2024)\u003c\/li\u003e\n\u003cli\u003eHigher retention as tools integrate daily\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/pkaspi.kz\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/CANVAS-Content-Revenue-Streams-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eKaspi.kz 2024: KZT5.2trn GMV, KZT176.3bn NII - marketplace, credit \u0026amp; merchant SaaS growth\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eKaspi.kz earns commissions on marketplace GMV (1-6%; GMV KZT 5.2trn in 2024), net interest income from consumer credit (KZT 176.3bn, 62% of operating income in 2024), merchant acquiring\/processing fees (acquiring KZT 4.2trn; KZT 3.2trn for Kaspi Bank), travel commissions (~KZT 15.6bn) and merchant SaaS\/subscriptions (added ~KZT 8.4bn; merchant ARPU +9%).\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eGMV\u003c\/td\u003e\n\u003ctd\u003eKZT 5.2trn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eNet interest income\u003c\/td\u003e\n\u003ctd\u003eKZT 176.3bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eAcquiring volume\u003c\/td\u003e\n\u003ctd\u003eKZT 4.2trn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTravel commissions\u003c\/td\u003e\n\u003ctd\u003eKZT 15.6bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMerchant SaaS\u003c\/td\u003e\n\u003ctd\u003eKZT 8.4bn\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e","brand":"Value Chain Analysis","offers":[{"title":"Default Title","offer_id":57354827759947,"sku":"kaspi-business-model-canvas","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1049\/6776\/6347\/files\/kaspi-canvas-business-model.webp?v=1779146184","url":"https:\/\/valuechainanalysis.com\/products\/kaspi-business-model-canvas","provider":"Value Chain Analysis","version":"1.0","type":"link"}