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Uzbekistan
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during 2025-2028
Popularity of e-commerce payment methods
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Uzum Bank powers payments within the wider Uzum ecosystem and for third-party businesses
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Reasons for Popularity
Rapid Growth and Brand Recognition: The brand is widely recognized, with surveys indicating that about 80% of residents are familiar with Uzum, and 72% consider it their primary choice for online shopping
User-Friendly Features: Uzum offers features such as a buy-now-pay-later (BNPL) scheme that has gained traction, with nearly half of its transactions utilizing this service. This flexibility in payment options appeals to consumers looking for convenience
Government Support and Digital Initiatives: The Uzbek government has been promoting digitalization across various sectors, which has contributed to the growth of platforms like Uzum that facilitate online commerce and financial services
UZCARD is Uzbekistan’s incumbent payment system launched in 2004, offering card-based payments for both in-store and online transactions, with support for QR codes, Google Pay and mobile wallets. Along with HUMO, Uzcard is much more popular in Uzbekistan than international payment systems such as Visa or Mastercard.
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Reasons for Popularity
In 2023 65.7% of the P2P payments were carried out through UZCARD
Competitive Fees: Compared to international payment systems like Visa and Mastercard, UZCARD offers lower fees for card issuance and transactions, making it more attractive to users
Widespread Acceptance: UZCARD is widely accepted across various merchants and service providers throughout Uzbekistan, particularly in rural areas where international cards may not be as commonly used
Integration with Local Services: UZCARD is integrated with numerous local payment services and platforms that allow users to perform various transactions such as bill payments and money transfers easily
HUMO launched in 2019, is the national payment system of Uzbekistan, focusing on modernizing card payments with features like contactless transactions and QR code support, integrating with Google Pay and mobile wallets for digital payments. Along with Uzcard, HUMO is much more popular in Uzbekistan than international payment systems such as Visa or Mastercard.
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Reasons for Popularity
Integration with Local Infrastructure: The system is widely accepted across Uzbekistan, including rural areas where international cards or global players like Apple Pay or Google Pay may not be as prevalent
Comprehensive Services: HUMO provides a wide range of services beyond basic payments, including bill payments, fund transfers, and access to ATMs
Collaboration with International Payment Systems: The collaboration with Visa, MasterCard, and UnionPay allows HUMO cardholders to conduct transactions abroad using their HUMO cards
