Baku, Azerbaijan, May 14
By Fakhri Vakilov - Trend:
The Central Bank of Uzbekistan and the global payment technology company Visa have signed a Memorandum of Understanding and Cooperation for the joint implementation of programs for the development of digital payment infrastructure in Uzbekistan, Trend reports citing Uzbek media.
The memorandum states that the parties intend to jointly promote the creation of a digital payment infrastructure in Uzbekistan, expand the network of accepting electronic payments by introducing new digital payment products and cooperate in developing regulations aimed at developing digital payments.
Moreover, the parties agreed to implement programs to expand card acceptance throughout the country and develop e-commerce by providing banks and merchants with reliable risk management tools.
As part of the partnership, the Parties intend to work with local banks on the implementation of tokenization of card credentials to ensure the security of mobile and electronic payments, and exchange data on risks and fraudulent transactions.
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