JSC Kaspi.kz Kaspi.kz Launches Online Travel Platform (8889H)

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RNS Number : 8889H

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08 December 2020

Kaspi.kz launches online travel platform Kaspi Travel

Almaty, Kazakhstan - 8 December, 2020 - Kaspi.kz announces the launch of its online travel platform, Kaspi Travel. Kaspi.kz's more than 8.5 million users can now purchase domestic and international flights from over 700 airlines through the Kaspi.kz Super App.

Mikheil Lomtadze, Kaspi.kz co-founder and CEO, commented:

"Kaspi Travel is our latest product addition to the Kaspi.kz Super App. Our users can search, book and seamlessly buy airline tickets. Kaspi Travel is fully integrated with our Payments and Fintech Platforms, allowing payment with the Kaspi Gold virtual card or by installments using our buy-now-pay-later consumer finance products. Our large and highly engaged Super App user base, combined with our innovative product proposition should allow us to quickly become Kazakhstan's leading online travel operator.

Although the COVID-19 pandemic has severely disrupted the global aviation industry this year, the long-term growth opportunity remains substantial. In 2019 Kazakhstan was one of the fastest growing domestic aviation markets in the world, with more than 8.6 million passengers transported, up 9% year-on-year. Sitting at the heart of Central Asia, Kazakhstan is also an important gateway to some of the world's largest and fastest growing markets including Russia, China and India. According to our estimates, Kazakhstan's domestic and international air passenger market is worth around $1 billion. We are excited to enter this large market and expect to play a major role as demand recovers in 2021 and beyond.

The launch of Kaspi Travel, follows our acquisition earlier this year of Santufei, Kazakhstan's one of the leading online platforms for purchasing airline tickets. In 2021 we plan to integrate a raft of new travel functionality into our Super App, including online check-in, seat reservations and payment for additional baggage. Over time we will also expand Kaspi Travel into new markets, including ground transportation, hotels and package holidays. Kaspi Travel should once again allow us to grow usage of our Super App and better serve the day-to-day needs of our valued consumers."

About Kaspi.kz

Kaspi.kz is the largest Payments, Marketplace and Fintech Ecosystem in Kazakhstan with a leading market share in each of its key services and products. At the core of the Kaspi.kz Ecosystem is the Kaspi.kz Super App, the leading mobile app in the country.

The Kaspi.kz Super App serves as a single gateway to all services and is an integral part of people's daily lives in Kazakhstan. As people's daily lives become increasingly digitalised, Super App usage is expected to grow supported by accelerating consumer adoption of cashless payments, e-Commerce and digital financial services.

Kaspi.kz's Ecosystem business model, where the growth and development of one service contributes to the growth and development of other services, creates a powerful virtuous cycle. A growing number of services being used by consumers results in synergies across all Platforms, structurally high profitability and creates a powerful self-reinforcing network effect, giving Kaspi.kz strong competitive advantages.

For further information:

David Ferguson

+44 7427 751 275

david.ferguson@kaspi.kz

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