MasterCard to help develop Uzbek Humo payment system

1 April 2019 16:54 (UTC+04:00)

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By Abdul Kerimkhanov

MasterCard will help develop Uzbekistan's national Humo payment system, Podrobno.uz reports.

This was announced during a meeting of representatives of the Uzbek Central Bank with representatives of MasterCard Europe.

At the event, the parties discussed issues of cooperation between the two parties in the development of non-cash payments in Uzbekistan. The sides also discussed expanding the capabilities of national Humo payment system to maintain the functionality of cash payments in Uzbekistan.

"Following the meeting, the parties signed a protocol of intent between the Central Bank and MasterCard Europe. The document provides for increased interaction and cooperation in order to develop the payment industry and the infrastructure for accepting payment instruments in the Humo payment system network," the Central Bank's press service reported.

In addition, the protocol provides for expanding the possibility of using MasterCard in the payment infrastructure being created, as well as holding joint events to improve the financial literacy of the population of Uzbekistan.

The parties also expressed a desire to expand the possibilities of international payments for Uzbek citizens with Humo payment cards using MasterCard payment instruments.

The President of Uzbekistan instructed the Central Bank to create a National Interbank Processing Center and a new retail payment system in September 2018.

MasterCard operates the world’s fastest payment processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories.

MasterCard is providing the technology that’s leading the way toward a World Beyond Cash.

Day after day, new opportunities are being created in Uzbekistan for the development of the banking sector in the area of customer service.

Today, in Uzbekistan there are more than 200,000 payment terminals (POS-terminals) serving Uzcard cards. At the moment, technical and legal possibilities have been implemented for accepting Mastercard international payment system cards through POS-terminals of Asaka Bank.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94