PAYMENTS IN UZBEKISTAN
Uzbekistan is one of the Asian countries in the Eurasian Yearbook. It is a unitary, constitutional, presidential republic comprising 12 provinces, one autonomous republic, and one capital city, Tashkent. Uzbekistan is bordered by five countries: Kazakhstan, Tajikistan, Kyrgyzstan, Afghanistan and Turkmenistan. The country’s official language is Uzbek.
Uzbekistan is a member of the Commonwealth of Independent States (CIS), the Organisation for Democracy and Economic Development (GUAM), and the Economic Cooperation Organisation (ECO).
Best known in Soviet times for its production of cotton, Uzbekistan has enjoyed robust GDP growth since the mid-2000’s. The official aim is to make the transition to a more market-oriented economy and to become an industrialised, high middle-income country by around 2050.
Uzbekistan went through its first transfer of power in 27 years after the death of its first president, Islam Karimov, on September 2, 2016. Newly elected President Shavkat Mirziyoyev declared that improvements to the business environment through liberalisation measures in the banking sector, trade, currency conversion, tax administration, and fighting corruption were among top policy priorities.
Although card usage is widespread, Uzbekistan lags behind other countries in Eurasia in uptake of digital payments, due to poor legacy infrastructure for telecoms and poor internet coverage. However, over the past decade, the adoption of policies geared towards increased digitisation are accelerating digital payment transformation and mobile payment services, as well as cardless payments directly from bank accounts with instant payments.
Mobile payments in particular are helping Uzbek consumers leapfrog infrastructure issues, although most international digital wallets are not yet available. Domestic schemes such as UzCard, HUMO and bank mobile apps are the predominant ways Uzbeks use mobile payments.
STATISTICAL KEY FIGURES FOR 2020 PROVIDED IN THIS PROFILE
• UPDATED: tables with card business data 2016-2020; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
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Version 1.0 - last updated Wednesday 26th January 2022