In the framework of the international financial-banking forum, which was held in Tashkent on March 27-30, it became known that the new Humo payment system was created following the example of the Russian system “Mir”.
The head of Humo Shukhrat Kurbanov said that “Mir” is well known to everyone and has much in common with Humo. Consequently, this idea was confirmed in the Central Bank itself:
“Today, one enterprise is the operator of the local payment system, and the appearance of the second on the market will already develop competition. In addition, in Russia the same mechanism has been implemented – the owner of the payment system “Mir” is the bank of Russia. I do not see any problems in this direction that may arise, the main goal of the Central Bank and the state is to develop competition in the market,” deputy chairman of the Central Bank of Uzbekistan Botir Zakhidov said.
The Russians are in a better situation than the Uzbeks, because they have a choice. In Russia, you can open the Visa/MasterCard card at any bank and ask the employer to transfer the salary there.
Even if an owner of the “Mir” card is a state employee and is forced to receive a salary, the money can be transferred to Visa or MasterCard with a minimum commission, which many do.
The choice also lies in the fact that Russia initially joined the global payment system and the banks there immediately started issuing cards of international payment systems, while Uzbekistan created its system due to the lack of conversion.
Uzbekistan is generally one of the few countries in the world where cards of international payment systems are called “currency” or “conversion”. In many countries, besides international cards, there are no other cards anymore.
To open a currency card in Uzbekistan, you will have to spend a lot of time and money.
The choice between UzCard and Humo, which is now also created by the Central Bank, is not correct to call a competition.
Of course, it is necessary to have a national payment system. If only because it will allow not depending on others – if suddenly tomorrow Uzbekistan will fall under sanctions too, Humo or UzCard will help out. But it cannot be limited only to national systems, depriving the population of choice.
In Uzbekistan, competition in the market of payment systems will appear only when they start issuing Visa and/or MasterCard salary cards and freely use them in the country, paying in soums. At the same time, Uzbekistan will emerge from isolation, while the Uzbeks will be able to massively take advantage of the achievements of global e-commerce.
