Baku, Azerbaijan, Nov. 14
Trend:
JSC Aloqabank has started issuing Uzbekistan’s first UzCard-UnionPay co-badged cards, which are accepted in the country and 170 countries and regions of the world, Uzbek media reported.
Co-badged card is a joint card of two payment systems - UzCard and UnionPay, intended for use in the infrastructure of both systems. Funds in national currency on a co-badged card are automatically converted into foreign currency when the payment is made abroad.
The cards are equipped with a chip, magnetic stripe and NFC technology, which allows non-contact payment of goods and services without entering a PIN code. To do this, it is enough to just bring the card to the reader.
UnionPay International’s infrastructure includes over 1 million ATMs worldwide. At the first stage, the bank is issuing co-badged cards UnionPay Classic and Gold. In the future, it is planned to issue premium class cards - Platinum and Diamond.
The bank also plans to expand the range of services using co-badged cards: cross-border card-to-card (P2P) funds transfer, online payments and cashback.