On January 24, as part of a ceremonial event dedicated to the 20th anniversary of the Interbank Processing Center JSC (the operator of the national payment system ELCART in the Kyrgyz Republic), a panel discussion was held where experts examined the prospects for the development of national payment systems, including the UZCARD system in Uzbekistan.
During the session on cross-border cooperation, the Executive Director of UZCARD, Olimjon Zakirov, shared his vision for the further development of payment solutions in Uzbekistan and provided an overview of UZCARD’s evolution—from the launch of payroll projects to the implementation of electronic commerce solutions.
Special attention was given to the commercial aspects of UZCARD’s operations. Participants of the panel discussion explored strategies for maintaining competitiveness in a highly competitive market, including tariff policies, interbank fees, and benefits for issuers.
Additionally, the discussion covered the integration experience of ATMs with the HUMO payment system, analyzing challenges, achieved results, and outlining further steps for expanding the terminal network. A key focus was placed on cross-border cooperation aimed at ensuring the mutual acceptance of UZCARD and ELCART cards in POS terminals and ATMs in Kyrgyzstan and Uzbekistan. This collaboration will simplify payment transactions, enhance convenience for users, and expand opportunities for cashless payments in Central Asia.
The panel session discussion became an important step in strengthening ties between payment systems, creating new opportunities for users, and introducing innovative solutions in financial technology. In the future, such initiatives will help integrate payment systems into the global financial ecosystem.
It is worth noting that during the event, the UZCARD payment system was honored with the “Partner of the Year” award for its significant contribution to the development of international cooperation.
The collaboration between UZCARD and ELCART will contribute to improving service quality in the banking sector, as well as fostering a more competitive environment in the payment services market.