Humo and Uzcard join forces with India’s UPI for enhanced payment solutions

According to a statement from the Central Bank of Uzbekistan, this initiative comes as part of a broader effort to improve the country's payment infrastructure.

On October 29, the Deputy Chairman of the Central Bank, Sodir Melibaev, met with representatives from the National Payments Corporation of India (NPCI). During their discussions, they focused on enhancing Uzbekistan's payment system, sharing best practices, and strengthening cooperation in cybersecurity development.

As a result of the dialogue, Humo and NPCI International — an affiliate of NPCI — have reached a significant agreement to establish a joint payment network. This collaboration aims to facilitate the exchange of technological expertise, the development of new products tailored for both markets and the enhancement of bilateral money transfer systems.

The discussions have opened up new avenues for deepening partnerships between the two payment systems and effectively implementing their respective strategic goals. In September, representatives from the Central Bank, the National Association of Payment Systems (NAPPS), and the National Bank of Uzbekistan (NBU) discussed the possibility of implementing the UPI mobile payment system to accommodate Indian tourists visiting Uzbekistan.

This integration is expected to significantly boost the efficiency of electronic payments in Uzbekistan, providing greater convenience for both local residents and international visitors.