BAKU, Azerbaijan, June 27
Trend:
Uzbekistan’s Uzcard and Mastercard are preparing to release the first joint co-branding cards in August 2020, by order of one of the largest financial and credit institutions in Uzbekistan, Director General of the Unified Republican Processing Center of Uzbekistan Ahror Mahmudov said, Trend reports with reference to nuz.uz.
“One of the largest banks in the country, I can’t tell yet which one, has signed a contract to release cards. I think that in August we will see the first co-branded Uzcard-Mastercard on the market. By this time, we will complete the preparation of the entire infrastructure, in particular, will re-sew the last terminals,” Mahmudov noted.
“For the first time, Uzcard launched the co-branding project with the UnionPay international payment system at the end of 2018, and over 450,000 co-branding cards have been released so far. Their share in the total volume of transactions reaches 26 percent,” he said.
However, UnionPay cards are not accepted in all countries, added the director.
From January through May 2020, the number of bank plastic cards in circulation increased in Uzbekistan by 8.9 percent to 22.4 million units, payment terminals - by 7.8 percent to 422,900 units, and the volume of revenues in cash through them grew by 10 percent up to 29.6 trillion Uzbek soms compared to the same period of 2019.