Analysis of Non-Cash Payments in Kazakhstan and Impact on the Development of Entrepreneurship

Abstract

The purpose of the study is to cashless payments in the Republic of Kazakhstan and their impact on the development of households and entrepreneurship. Improving cashless payments is closely related to the overall development of technology. The speed, convenience, and security of non-cash payments are growing from year to year. Cashless payment is a relevant and convenient form of payment in the life of every citizen, due to its availability for all legal entities and individuals. This trend is widespread and qualitatively increasing. There is also a trend of rapid penetration of non-cash payments into the financial market. This is due to convenience, the developing market of digital services, and payments, as well as the growing competitiveness of banks. The main research methods were general theoretical methods, as well as special economic and mathematical methods. Based on the study of the organization of cashless settlement in the Republic of Kazakhstan and the analysis of the work with the cashless settlement, the following recommendations were made to improve the system of cashless settlement to Kazakhstani enterprises: introduction of Enterprise Resource Planning (ERP) and Customer Relationship Management (CRM) into the economic activities of enterprises; improvement of the electronic money system by creating platforms for seamless operation of data transfer. The practical significance of the study is determined by the fact that the proposals made by the authors on the improvement of the cashless payment system can be used to improve this system.