Baku, Azerbaijan, July 23
By Fikret Dolukhanov – Trend:
National processing center of Uzbekistan UzCard and the American multinational company VISA weren’t able to achieve an agreement on the project to issue co-badged cards, which has led to the project being suspended, the Uzbek company told Trend on July 23.
The company representative underlined that a number of negotiations were held between the management of UzCard and representatives of VISA, which, however, proved to be fruitless and no agreements were signed between the companies.
"Our company originally planned to issue co-badged cards with four international payment systems, namely VISA, MasterCard, UnionPay and MIR. To date, a number of negotiations with those have been successful. First of all, it is worth noting the agreement with UnionPay International,” UzCard noted.
The agreement, signed between UzCard and UnionPay in early June, allowed using new co-badged cards both in the territory of Uzbekistan, under the UzCard payment system, and outside the republic, under the UnionPay International payment system.
The representative of UzCard also reminded that VISA currently has existing agreements with several financial institutions and banks of Uzbekistan, which process VISA plastic cards independently.
VISA earlier stated that the company does not plan to issue co-badged cards soon jointly with the national processing center of Uzbekistan, UzCard.
VISA underlined that they cooperate with financial institutions and business partners in Uzbekistan in a number of areas related to development of non-cash payments, but creation of a co-badged card is not among these areas.
---
Follow the author on Twitter: @FDolukhanov