Central Bank plans to pilot universal QR code for cashless payments

On 27 November, President Shavkat Mirziyoyev signed a decree on the development of financial technologies in Uzbekistan. According to the 2025–2026 fintech support program, the country aims to establish unified standards for payments via QR codes.

The chairman of the Central Bank, Timur Ishmetov, has been tasked with launching the pilot project in December together with banks and payment service providers. By January 2026, the regulator is expected to develop and approve the relevant regulatory framework for the universal QR code, with a full market rollout planned for February.

In April, Miraziz Mirhayatov, deputy director of the Central Bank’s Payment Systems Department, said the universal QR code will simplify cashless payments. Currently, businesses often display multiple QR codes at points of sale, which may cause inconvenience for customers. The new standard will allow a single QR code at a business, enabling clients to pay using their preferred mobile app or payment service. Mirhayatov noted that developing this standard will take about a year.

According to the Central Bank, over 108,000 entrepreneurs obtained individual QR codes in 2024. Payments made via QR codes rose by nearly 31% to 441.79 billion UZS.

The Central Bank highlights several advantages of QR code payments: no need to install POS terminals, reducing costs for businesses, and automatic crediting of tax cashback due to system integration.

Under a presidential decree issued in August, self-employed individuals and sole proprietors will be required to create QR codes for accepting electronic payments. Failure to do so will be considered equivalent to not using cash register equipment.