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Only Uzbek internet payment system closed

ICT Materials 1 June 2010 17:30 (UTC +04:00)

Uzbekistan, Tashkent, June 1 / Trend D.Azizov /

The operator of online payment eKarmon Group company announced about voluntary liquidation.

eKarmon (in Uzbek - "electronic purse") is the first national e-commerce system, linked to the national currency. The system created in 2008 was approved by the government as a pilot project under development of e-commerce in the country. The system operated in the national currency and limited only to the country's borders.

The company did not name the reasons for the closure, but emphasized that it is not associated with bankruptcy, but is a voluntary liquidation.

eKarmon Group asked all owners of electronic wallets in its system to withdraw their money to their banking accounts up to 14 June 2010.

Those owners, who will not withdraw their money till 14 June 2010, can receive their money after two months from the announcement of liquidation. This is envisaged by the regulation on voluntary liquidation and stopping activity of entrepreneurship.

The mission of the company was to provide high quality internet-payment services to population, businesses and non-commercial organizations.

According to the company, the system eKarmon registered tens of thousands of wallets.

One could to pay for the services of mobile and fixed line, internet, utilities, as well as make purchases connected to the system online stores through eKarmon via the Internet or cell phone (through a special application).

After the closure of eKarmon, Uzbekistan lacked the Internet payment system, allowing users to make purchases on the network using personal e- wallets.

LLC "TILLO-GARANT", which is advocated by the issuer and guarantor of the virtual currency WMY - equivalent of the Uzbek soum on the Internet, closed In March 2010.  It also providef payment for products and services in the Internet through an international system for online payments Webmoney Transfer.

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