Short Description: Uzbekistan launches UZCARD PAY, a new contactless mobile payment service, marking a major leap in the nation’s fintech and digital finance landscape.
Read Time: 2 minutes, 15 seconds
Main Article:
Uzbekistan has taken a significant stride toward a cashless economy with the official launch of UZCARD PAY, a new contactless payment service. Developed through a strategic partnership between local fintech leader Beelab and the national payment system UZCARD, this initiative allows consumers to make payments directly from their smartphones. This move taps directly into the global trend of contactless payments, offering a faster, more secure alternative to physical cards and cash. For the digital finance sector in Uzbekistan, this represents a pivotal moment of infrastructure maturation and consumer adoption.
To use the service, customers simply need to link their existing UZCARD-branded bank card within the Beepul mobile application, a popular digital wallet platform. Once activated, payments can be made by tapping the smartphone on any of the over 100,000 NFC-enabled POS terminals already deployed across the country. This widespread existing infrastructure ensures immediate, nationwide access to the new payment solution, removing a major barrier to adoption. Initially exclusive to the Beepul app, UZCARD PAY is expected to expand its reach by integrating into other third-party applications in the future, further embedding itself into the daily financial transactions of Uzbek citizens.
The launch underscores the rapid evolution of fintech in Central Asia, with Uzbekistan positioning itself as a regional leader. Beelab, a subsidiary of telecom giant Beeline Uzbekistan, brings its expertise in digital financial products to the partnership, while UZCARD provides the essential backbone of the national payment network. By merging telecommunications with financial services, UZCARD PAY is more than just a new payment option; it’s a foundational step in building a comprehensive digital ecosystem aimed at boosting financial inclusion and modernizing the consumer economy.
Short Summary:
Uzbekistan’s launch of UZCARD PAY, a contactless mobile payment service developed by Beelab and UZCARD, marks a major advancement in the nation’s fintech landscape. Leveraging widespread NFC terminal infrastructure, it allows secure, phone-based payments via the Beepul app, signaling a strong push toward a digital finance ecosystem and enhanced financial inclusion for Uzbek consumers.
