Revenue

12 Months Ended

Dec. 31, 2024

Revenue includes fee revenue, interest revenue, retail revenue, rewards and other gains (losses). Rewards earned by retail customers of the Group are deducted from revenue.


	2022			2023			2024

REVENUE		1,270,592			1,913,490			2,532,156
Fee revenue		724,742			1,027,545			1,329,350
Interest revenue		574,426			833,516			1,082,668
Retail revenue		-			68,807			163,134
Rewards		(44,960	)		(39,578	)		(54,225	)
Other gains (losses)		16,384			23,200			11,229

Revenue by segments for the years ended 31 December 2022, 2023 and 2024 is presented below:


	2022			2023			2024

Payments		333,343			478,684			587,097
Payments fee revenue		256,750			368,925			458,953
Interest revenue		76,593			109,759			128,144
Marketplace		239,609			448,223			732,943
Marketplace fee revenue		236,884			375,189			562,283
Retail revenue		-			68,807			163,134
Interest revenue		-			-			6,304
Other gains		2,725			4,227			1,222
Fintech		745,023			1,026,721			1,281,827
Interest revenue		500,256			723,757			955,528
Fintech fee revenue		231,108			283,991			316,292
Other gains (losses)		13,659			18,973			10,007
Intergroup		(2,423	)		(560	)		(15,486	)
Segment Revenue		1,315,552			1,953,068			2,586,381
Rewards		(44,960	)		(39,578	)		(54,225	)
REVENUE		1,270,592			1,913,490			2,532,156

For the year ended 31 December 2022, intergroup represents Payments interest revenue that was offset by Fintech interest expenses (part of the Fintech costs and operating expenses) due to Fintech loans being partially funded from Payments’ interest free balances. For the year ended 31 December 2023, intergroup represents Marketplace fee revenue that was offset by Marketing expense, for activities to attract consumers of Fintech loans. For the year ended 31 December 2024, intergroup includes interest revenue generated by Marketplace and Payments platforms due to placement of cash to term deposits in the Bank that is offset by interest expenses of Fintech.

Other gains (losses) are mainly due to net gains (losses) on foreign exchange operations and net gains (losses) on financial assets and liabilities. For the years ended 31 December 2022, 2023 and 2024, the net gain (losses) on foreign exchange operations were KZT 1,377 million, KZT 10,892 million and KZT (11,983) million, respectively. For the years ended 31 December 2022, 2023 and 2024, the net gain on financial assets and liabilities were KZT 11,471 million, KZT 4,385 million and KZT 21,329 million, respectively.

Fee revenue and retail revenue are presented by timing of revenue recognition in the table below:


	2022		2023		2024
Goods and services transferred at point in time		480,514		786,267		1,151,887
Payments fee revenue - Transaction Revenue		243,630		342,271		426,470
Marketplace fee revenue		236,884		375,189		562,283
Retail revenue		-		68,807		163,134
Goods and services transferred over time		244,228		310,645		348,775
Payments fee revenue - Membership Revenue		13,120		26,654		32,483
Fintech fee revenue - Membership Revenue		4,568		3,249		3,432
Fintech fee revenue - Fintech banking service fees		226,540	280,742		312,860
TOTAL FEE AND RETAIL REVENUE		724,742		1,096,912		1,500,662