Kaspi.kz is a diversified financial technology and e-commerce platform operating in Kazakhstan, Azerbaijan, and Türkiye that provides an integrated Super App combining payments, lending, marketplace, and grocery services. The company generates revenue through transaction fees, interest income from consumer and merchant lending, merchant commissions on e-commerce transactions, and financial services fees, with lending activities representing a significant income contributor. The platform funds operations primarily through customer deposits and accounts, competing with domestic and international payment service providers, retail banks, and e-commerce players while serving both retail customers and merchants through its digital channels and proprietary risk management systems.