Kazakhstan to develop POS terminals.

By bne IntelliNews January 18, 2013
Kazakh banks are struggling to handle orders for POS terminals from the local companies as the government took steps to change the situation. The new amendment to the Administrative Violations Code provide administrative liability for business for lack of equipment for acceptance of payment via bank cards. A fine for refusing acceptance of such a payment was set KZT 34,620 (USD 231) for an individual entrepreneur and at KZT 86,550 for large business. In fact a decree on POS terminal usage was adopted in 2002 but business failed to do it purposely. The issue was raised by Grigory Marchenko, head of National Bank of Kazakhstan earlier this year.

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