Kviku plans to offer principally new products to consumers in Central Asia: thus, the main focus will be on developing the segment of virtual cards, including cards with a credit limit.
Currently, Kviku virtual cards are mainly used to make purchases on the Internet, but in the near future, after binding to the services of Apple Pay and Samsung Pay, it is planned to provide the possibility of using them for offline shopping.
The proposed loan rates are at the mid-market level. In addition, due to the lack of a traditional plastic carrier, the use of the card does not require a commission for it's service. Also, customers are granted a grace period of up to 50 days and cashbacks for purchases.
Currently, the average value of one purchase made with the help of the Kviku card is about 5000 tenge. At the same time, about 1/3 of all transactions are performed on AliExpress, which is closely connected with the CIS market: 60% of the total sales on this resource are in such countries as Russia, Kazakhstan, Ukraine and Belarus.
The company expects to increase the daily volume of issuing virtual cards in Kazakhstan to 2000 by the end of 2018.
"Kakhakhstan is one of the priority markets for the development of financial technologies in the territory of the CIS.Today, the so-called regulatory sandboxes are actively tested here, which presupposes the provision of special operating conditions for participants in the financial market.This allows prospective start-ups to realize their ideas in a pilot mode without violating norms of legislation.This format creates a favorable climate for the development of the fintech industry, "said Veniamin Lipsky, founder and financial analyst director of Kviku.