BISHKEK, Kyrgyzstan, October 26. Kyrgyzstan and Uzbekistan plan to establish a single payment ecosystem: Elkart — Uzcard, Trend reports.
According to Kyrgyzstan's Interbank Processing Center, Uzbekistan's Unified Republican Processing Center (Uzcard) and Kyrgyzstan's Interbank Processing Center (operator of the national payment system Elkart) have signed a memorandum of cooperation to create a unified payment ecosystem.
The project will facilitate mutual payment acceptance, enabling the use of Elkart cards in Uzbekistan and the acceptance of Uzcard in Kyrgyzstan.
The memorandum aims to establish intersystem integration by simplifying cross-border operations for cardholders. It focuses on implementing modern technologies in cross-border payments, promoting new digital solutions, and enhancing financial literacy among citizens of both nations.
This integration of national payment systems is expected to open new opportunities not only for the financial infrastructure of Uzbekistan and Kyrgyzstan but also to provide a boost for mutual trade, tourism, and economic cooperation across various sectors.