TASHKENT, Uzbekistan, May 10. The volume of payments on Uzbekistan’s Payme payment service totaled 2.5 billion lari ($934.6 million) from January through March 2024, Trend reports.
This amount is up 13.6 percent from the same period last year, as reported in the quarterly report of TBC Bank Group (2.2 billion lari, or $822.5 million in January-March 2023).
The share of peer-to-peer transfers between users decreased and amounted to 72 percent.
In addition, payments for services within the application accounted for 22 percent. Other payments accounted for 6 percent.
Meanwhile, the volume of transactions on Uzbekistan’s Payme payment service reached its peak in the last quarter of 2023, totaling 2.6 billion lari ($986.8 million).
The number of payments made through the Payme application increased by 29 percent and amounted to 9.5 billion lari ($3.6 billion).
In 2020, the Georgian TBC Bank started banking operations in Uzbekistan and opened its first branch in Tashkent.
Today, TBC Group Uzbekistan represents three fintech companies in Uzbekistan: TBC Bank Uzbekistan, TBC Installment, and Payme Payment Service.
Since May 2023, TBC Group has fully owned Payme. The group's year-end profit in Uzbekistan reached 59 million lari ($22.3 million), or 5.2 percent of its total revenues (1.1 billion lari, or $417.4 million).