Revenue

12 Months Ended

Dec. 31, 2023

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.


	2021			2022			2023

REVENUE		884,822			1,270,592			1,913,490
Fee revenue		519,474			724,742			1,027,545
Interest revenue		422,075			574,426			833,516
Retail revenue		-			-			68,807
Rewards		(51,981	)		(44,960	)		(39,578	)
Other gains (losses)		(4,746	)		16,384			23,200

Revenue by segments for the years ended 31 December 2021, 2022 and 2023 is presented below:


	2021			2022			2023

Payments		217,085			333,343			478,684
Payments fee revenue		166,449			256,750			368,925
Interest revenue		50,636			76,593			109,759

Marketplace		153,604			239,609			448,223
Marketplace fee revenue		151,742			236,884			375,189
Retail revenue		-			-			68,807
Other gains		1,862			2,725			4,227

Fintech		566,114			745,023			1,026,721
Interest revenue		371,439			500,256			723,757
Fintech fee revenue		201,283			231,108			283,991
Other gains (losses)		(6,608	)		13,659			18,973

Intergroup		-			(2,423	)		(560	)

Segment Revenue		936,803			1,315,552			1,953,068
Rewards		(51,981	)		(44,960	)		(39,578	)

REVENUE		884,822			1,270,592			1,913,490

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.

Other gains (losses) are mainly due to net gains (losses) on foreign exchange operations and financial assets and liabilities at FVTPL. For the years ended 31 December 2021, 2022 and 2023, the net gain (loss) on foreign exchange operations were KZT (656) million, KZT 1,377 million and KZT 10,892 million, respectively. For the years ended 31 December 2021, 2022 and 2023, the net gain (loss) on financial assets and liabilities at FVTPL were KZT (7,066) million, KZT 11,471 million and KZT 4,385 million, respectively.

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


	2021		2022		2023
Goods and services transferred at point in time		308,480		480,514		786,267
Payments fee revenue - Transaction Revenue		156,738		243,630		342,271
Marketplace fee revenue		151,742		236,884		375,189
Retail revenue		-		-		68,807

Goods and services transferred over time		210,994		244,228		310,645
Payments fee revenue - Membership Revenue		9,711		13,120		26,654
Fintech fee revenue - Membership Revenue		9,452		4,568		3,249
Fintech fee revenue - Fintech banking service fees	191,831			226,540	280,742
TOTAL FEE AND RETAIL REVENUE		519,474		724,742		1,096,912