JSC “Paynet” has signed a Memorandum of Understanding (MoU) with W Straits Limited, a major international fintech company and a global partner of Tencent Cloud. This strategic partnership marks an important milestone in the development of Uzbekistan’s digital economy.
The MoU sets out the framework for long-term, effective, and mutually beneficial cooperation between the two companies. Key areas include the development of advanced IT solutions for businesses and the integration of mutual payment platforms. These initiatives are aimed at expanding access to e-commerce and online shopping for millions of people across Uzbekistan.
Headquartered in Malaysia, W Straits has extensive international experience in cloud technologies, microfinancing, cross-border payments, and the creation of “smart ecosystems.” As the official distributor of Tencent Cloud — a technology giant and the owner of the WeChat super-app — W Straits is well-positioned to introduce cutting-edge technologies into emerging markets.
“This partnership is more than just a business agreement — it is a path toward global digital integration,” commented Anvar Sadikovich Isamukhamedov, CEO of JSC “Paynet.” “Together with W Straits, we are paving the way for innovative financial services and transformative e-commerce solutions that will benefit both businesses and consumers.”
Paynet is Uzbekistan’s leading payment system, offering a mobile application for online payments and a network of over 30,000 offline service points. The company plays a key role in developing the country’s fintech ecosystem.
The cooperation between Paynet and W Straits is expected to result in joint projects in the coming years that will transform Uzbekistan’s financial and e-commerce landscape.
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