TASHKENT, Uzbekistan, December 11. Uzbekistan’s
HUMO payment system and Kyrgyzstan’s Elkart system have unveiled a
collaborative initiative aimed at facilitating mutual acquiring
services, Trend
reports.
The new integration between Uzbekistan’s HUMO payment system and
Kyrgyzstan’s Elkart network will enable HUMO cardholders to make
purchases and withdraw cash across Kyrgyzstan. Similarly, Elkart
cardholders will have full access to HUMO’s nationwide payment
infrastructure in Uzbekistan.
This partnership unlocks significant opportunities for both
individuals and businesses in the two countries:
Convenience for travelers and labor migrants: Cardholders can
now make payments and withdraw cash without the need for currency
exchange or reliance on international payment cards.
Support for businesses in border regions: Merchants will be able
to accept cards from the neighboring country without incurring
additional costs or needing to connect to international payment
systems.
Faster transactions and lower costs: Transactions will be
processed directly through the national systems of Elkart and HUMO,
resulting in quicker and more cost-efficient operations.
The signed memorandum sets the stage for a unified intersystem
infrastructure that will significantly streamline cross-border
transactions, making them simpler and more efficient for
cardholders from both nations.
HUMO (National Interbank Processing Center) is Uzbekistan’s
national payment system, integrating payment participants,
instruments, technological solutions, and interbank money transfer
systems. The system enables the circulation of funds within the
country and supports integration with international payment
networks.
