Uzum Bank and Visa expand strategic partnership to foster fintech development in Uzbekistan. The bank has introduced early access to Uzum Visa plastic cards, leveraging its proprietary physical and IT infrastructure within the Uzum ecosystem.
Over 700,000 Uzbekistan residents currently use Uzum’s virtual card. Now, select customers can order a physical Uzum Visa card via the Uzum Bank app and collect it at designated Uzum Market locations in 31 cities across the country. Soon, the plastic Uzum Visa card will be made available to all users, with an expanded network of Uzum Market pick-up points.
The new plastic card enables seamless payments and cash withdrawals both domestically and internationally. Backed by Visa’s cutting-edge technology, users will benefit from fast transactions, secure and reliable contactless payments, and rapid transfers.
We are expanding our strategic partnership with Uzum Bank to promote fintech solutions in Uzbekistan. By leveraging Visa’s advanced technology and expertise, we aim to provide users with modern, reliable payment tools. This partnership creates new opportunities for fast, convenient, and secure financial operations, delivering a seamless payment and money transfer experience.
We established our own infrastructure to support the launch of Uzum cards on Visa’s international payment system. This includes localized acquiring and processing capabilities at Uzum Bank, delivery to Uzum Market pick-up points, and secure digital client identification processes. Visa’s expertise and technology empower us to develop ambitious fintech products that meet international standards and address the needs of Uzbekistan’s residents. We are building the fintech foundation of the Uzum ecosystem to help users solve daily tasks quickly and effortlessly online – whether they are paying for grocery delivery, ordering new season apparel, or applying for a microloan via their smartphone.
Uzum’s fintech services are integrated into its super app, built on the Uzum Market marketplace platform. This integration provides customers with access to all the benefits and special offers within the Uzum ecosystem.
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About Uzum Bank
Uzum Bank is an internet bank that operates within the national digital ecosystem of Uzum. Through Uzum Bank, millions of users manage their finances: paying for goods, services, and utility bills, earning cashback on purchases, transferring money, and withdrawing cash. Integration with Uzum Nasiya provides bank customers with access to limits of up to 25 million soums for installment plans and microloans, as well as convenient payments. Integration with Uzum Market and Uzum Tezkor offers additional bonuses and advantages within the Uzum ecosystem. Until December 31, users can make transfers of up to 100 million UZS per month from Uzum cards to Uzcard and Humo cards without fees, while intra-bank transfers are always free.
About Visa
Visa Inc. (NYSE: V) is a global leader in digital payments. Its mission is to connect the world through the most innovative, reliable, and secure payment network, enabling consumers, businesses, and economies to thrive. VisaNet, the company’s state-of-the-art global technology network, ensures reliable and secure payments worldwide. For more information, visit Visa’s website.