MasterCard to help developing payment system of Uzbekistan

By  Trend

Representatives of the Central Bank of Uzbekistan and MasterCard Europe have signed a protocol that provides for cooperation in the development of the national Humo payment system, Trend reports with reference to the press service of the Central Bank of Uzbekistan.

Moreover, the document stipulates the expansion of the possibility of using MasterCard cards in the payment infrastructure being created, as well as holding joint events to improve the financial literacy of the population of Uzbekistan.

The parties also agreed to simplify conduction of international settlements for Uzbeks with Humo payment cards using MasterCard.

The name of the new payment system Humo was chosen in October last year following a vote organized by the Central Bank. This option was supported by 45.3 percent of the participants.

The creation of a national payment system is stipulated by the resolution of the President of Uzbekistan "On measures for the development of a national payment system" dated September 19, 2018.