BAKU, Azerbaijan, December 22. Mastercard has a goal to help Uzbekistan accelerate the development of its tourism sector, Denis Filippov, Mastercard’s Country Manager in Uzbekistan and Belarus told Trend in an exclusive interview.
Filippov highlighted the development of Mastercard card acceptance throughout Uzbekistan, ensuring the acceptance of contactless payments in transportation, support for small businesses working in tourism, and the development of payments via other form factors such as smartphones and smartwatches as among the company's important initiatives in Uzbekistan.
E-commerce initiative in Uzbekistan
Citing Filippov, Mastercard intends to open an e-commerce school in Uzbekistan in collaboration with the Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan, emphasizing that the training will be available to both managers and staff in the tourism industry, including those from small businesses.
"We can see how vigorously the Uzbek tourism business has evolved in recent years. 4.3 million tourists from various countries visited the country from January to August of this year, adding an additional $1.4 billion to the Uzbek economy. Foreign tourists have increased three to fourfold. According to Mastercard research, customers traveling to other countries want to know that their credit card will be accepted everywhere," Filippov said.
Therefore, the company representative stressed that Mastercard strives to ensure universal acceptance of its cards and that they are already accepted in Uzbekistan almost everywhere, including cities of attraction for tourism like Tashkent, Samarkand, and Bukhara.
"Our Mastercard Tourism Insights platform will also help the country's international tourism development. It is based on an investigation of how our clients use maps in other countries, and it allows us to predict tourist behavior and consumer preferences, allowing us to better organize tourist flows," he said.
Development of payment systems
Filippov further stated that Mastercard aims to accelerate the development of tourism in Uzbekistan through the development of payment infrastructure for tourists and small businesses in the country.
"The establishment of financial accessibility and the provision of premium payment services will establish the conditions conducive to a rise in international tourist arrivals in Uzbekistan. Mastercard's commitment to enabling tourists to transact globally in a manner consistent with their domestic practices will contribute significantly to this objective,” he said.
The country manager noted that the increase in tourist flow to Uzbekistan will have a positive impact on society, as the sector has gotten through difficulties during the COVID-19 pandemic and the incomes of people employed in this field fell significantly.
“Digital transformation will accelerate the economic recovery of the industry, and facilitating access to innovation for small and medium-sized businesses will be the key to its rapid development. Due to the global nature of the business, Mastercard has the opportunity to promote Uzbekistan through its programs for cardholders around the world. In different countries, travelers with Mastercard cards receive exclusive benefits that are aimed at making tourist destinations more attractive,” he explained.
The company representative stressed that, in this regard, Mastercard is currently working on a program of special offers for tourists visiting the Uzbek city of Samarkand.
Deepening of partnership
Filippov also stressed that Mastercard aims to continue deepening its partnership with Uzbekistan in a variety of areas.
“We collaborate closely with Uzbekistan's Central Bank, and we have several cooperative projects targeted at improving the country's payment sector. Many of them are concerned with cybersecurity, fraud risks, compliance management, and fraud protection,” he said.
The country manager noted that the company also continues to work with individuals, offering Mastercard cardholders unique opportunities and favorable offers.
“Another promising area is the provision of payment solutions for retail, including marketplaces. The use of ready-made platforms and developments will allow Uzbek companies to reduce investments in innovation. This is especially important for small and medium-sized businesses that do not have enough available funds to invest.
The third area of Mastercard's activity in the Republic is the introduction of analytical platforms that allow companies to evaluate the effectiveness of operational activities and promotional activities, as well as the development of consulting support. We have already launched a number of data and services consulting projects in Uzbekistan,” Filippov said.
The regional manager added that the joint efforts of Mastercard and the government of Uzbekistan will contribute to strengthening economic stability in the region, as the improvement of payment technologies will increase the convenience of everyday payment transactions for the population as well as act as a stimulator of economic growth.
“We are confident that Mastercard's initiatives will open up new business opportunities in the country. We work closely with the Central Bank of Uzbekistan, the Ministry of Digital Technologies, the Agency for Strategic Reforms under the President of Uzbekistan, and other government organizations. And, as in any country of presence, we aim to resolve emerging issues through an open dialogue,” the company representative concluded.
Filippov also stated that in October 2023, Mastercard and Uzbekistan's Ministry of Ecology, Environmental Protection, and Climate Change signed a Memorandum announcing the start of joint work between Uzbekistan and the Mastercard Center for Tourism Innovation, and the first working meeting with the Ministry was already held in November.
Aziz Abdukhakimov, Uzbekistan's Minister of Ecology, Environmental Protection, and Climate Change, and Nikola Villa, Mastercard's Global Head of the Public Sector and Executive Vice President for Strategic Development, signed a Memorandum of Understanding in the field of tourism development earlier this year.
The signed memorandum states that Uzbekistan's Ministry of Ecology, Environmental Protection, and Climate Change will join the Mastercard Tourism Innovation Hub.
The Mastercard Tourism Innovation Hub will engage with Uzbekistan's Ministry and subordinate institutions to develop cooperative digital solutions for the government, domestic and foreign tourists, and tourism firms.
According to the most recent available data from Uzbekistan's Tourism Committee, 4.9 million tourists visited Uzbekistan between January and September 2023. The number of international tourists visiting the country in 2022 is expected to reach 5.23 million.