TASHKENT, Uzbekistan, January 16. Uzbekistan’s
UZCARD has expanded the functionality of its Tez QR service by
enabling payments with HUMO cards, Trend reports via the company.
The updated service is available in the mobile applications VIA,
Beepul, and Click SuperApp. Users can select either a UZCARD or
HUMO card as the payment source and confirm QR code payments
directly in the app, without using a physical card.
Tez QR is designed to support interoperability between different
payment instruments and facilitate cashless transactions through a
unified digital channel.
HUMO is Uzbekistan’s national payment system, providing
card-based and digital payment services across the country.
The transition to digital finance in Uzbekistan commenced
gradually, gaining traction from 2016 through 2018, and accelerated
with the initiation of the "Digital Uzbekistan-2030" Strategy in
October 2020.
Significant milestones encompass pre-2016 dependence on cash and
state-owned banks; the 2016 inception of Humo to foster
competition; the 2018 legalization of cryptocurrency trading and
digital economy initiatives; the entry of foreign fintech in 2019,
exemplified by TBC Bank's investment in Payme; an increase in
remote banking attributed to the COVID-19 pandemic in 2020; the
2023 establishment of a National Payment System and a growth in
mobile banking users; and proposed cashless mandates for high-value
transactions by 2026, alongside innovative payment solutions such
as MyID Palm in Tashkent.
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