Mastercard SME Confidence Index: SMEs drive digital transformation in Kazakhstan

• SMEs in Kazakhstan leverage digital payments and upskilling to foster growth and resilience

Almaty, Kazakhstan; 20 February 2025: Small and medium enterprises (SMEs) in Kazakhstan are viewing 2025 with a cautious optimism, propelled by a robust digital economy and strategic investments in technology and skills development. The third edition of the Mastercard SME Confidence Index reveals that 89% of Kazakh SMEs have adopted digital payments, underscoring a significant shift towards cashless transactions to enhance efficiency, security, and business credibility.

Overall, the SMEs surveyed in the 2025 edition of the study are optimistic about the next 12 months with 66% of respondents saying they are confident about doing business in the year ahead. Only 5% of respondents expressed a high degree of concern as compared to 6% in 2022.

“Small and medium enterprises are the backbone of economies, driving innovation, employment, and resilience. As digital transformation accelerates, SMEs are unlocking new opportunities through digital payments and financial inclusion. Their ability to adapt and grow in a rapidly evolving business landscape reflects the strength of an ecosystem that prioritizes access to finance, digital enablement, and sustainable growth,” said Dimitrios Dosis, president Eastern Europe, Middle East and Africa, Mastercard.

The Mastercard SME Confidence Index traditionally covers regions such as Africa, the Middle East and Eastern Europe. The first wave of the survey in 2021 was aimed at studying the impact of COVID-19 on SMEs, while the second wave in 2022 allowed to study SMEs’ experience in overcoming new challenges and taking advantage of emerging opportunities. During the current stage of the survey, SMEs were analyzed in terms of the impact of customer needs for financial services and business practices in the SME segment. As part of the survey, 100 SME representatives from various sectors of the economy were surveyed in Kazakhstan at the level of business owners and decision makers.

“As SMEs in Kazakhstan continue to adapt to a rapidly changing economy, digital transformation and access to training and development are key to their success. Mastercard remains dedicated to empowering these businesses with innovative payment solutions, training, and strategic partnerships to help them grow and thrive,” said Yasemin Bedir, division president, Eastern Europe, Mastercard.

Business owners highlight the convenience of digital payments for supplier and employee transactions (55%), more efficient multi-channel operations (45%), and greater access to growth opportunities (44%) as key advantages of embracing digital solutions. At the same time, if two years ago respondents considered a higher level of trust from banks and the government (38%) as the main advantage, now only 30% of respondents think so.

Compared to 2022, businesses have strengthened their digital presence. Electronic payments in e-commerce have also become more popular (growing from 64% in 2022 to 79% in 2024), as well as card payments (from 61% to 64%) and mobile payments (from 53% to 66%). Only 4% do not use digital marketing tools at all, while 80% have social media pages (61% in 2022), 86% have websites (56% in 2022), and 20% have their own mobile apps (15% in 2022).

Addressing economic challenges through digital innovation

As digitalization accelerates, SMEs are embracing cashless transactions, automation, and data-driven strategies to improve efficiency and long-term sustainability. 48% of respondents cite technological advances as their biggest driver of growth over the past year. Respondents also mention a growing domestic market (35%) and political stability (32%) as contributing factors to a favorable business environment.

On the other hand, according to respondents, such factors as rising prices for products and services (55% versus 58% in 2022), inflation (53% versus 48% in 2022), and a lack of qualified personnel (52%) can have a negative impact on business. Among the main threats to business, respondents most often mentioned the changing regulatory environment and legal requirements (38%), as well as the growing cost of doing business (38% versus 36% in 2022). 

Introduction of technological solutions to optimize the company's operations is considered as a factor of stabilizing the business, and applying for a loan is considered as a factor of reducing financial pressure (34%).

Government initiatives and upskilling propel SME growth

SMEs in Kazakhstan recognize government-led initiatives (48%) and private sector partnerships (44%) as key enablers of business growth. As businesses expand their digital capabilities, they are also prioritizing financial inclusion and sustainability, ensuring long-term resilience in an evolving market.

Beyond digital payments, SMEs are focusing on upskilling and workforce development, with 91% emphasizing staff training, while 90% seek greater access to development programs and seamless payment solutions. Recognizing these needs, Mastercard continues to support SMEs through strategic partnerships that provide financial knowledge, digital tools, and tailored payment solutions to help businesses scale efficiently.

Strategic partnerships strengthen SME resilience

In collaboration with Kazakhstan’s Ministry of Trade and Integration, Mastercard launched the e-commerce school in 2022, since then more than 2,000 SMEs have been trained there.

The Mastercard SME Confidence Index serves as a key benchmark for understanding the evolving landscape of small businesses in Kazakhstan. By working closely with fintech partners, banks, and government agencies, Mastercard continues to provide tailored payment solutions, access to financing, and business education programs that empower SMEs to navigate challenges and seize new opportunities.

From driving digital payments adoption and expanding access to credit to fostering financial inclusion and upskilling entrepreneurs, Mastercard remains dedicated to strengthening Kazakhstan’s SME ecosystem and supporting businesses as they adapt to an increasingly digital economy.

According to the website of the Prime Minister of the Republic of Kazakhstan, today the share of SMEs in the economy of Kazakhstan is 38.2% - this is more than 2 million enterprises providing employment to more than 4.2 million Kazakhstanis.