Kyrgyzstan and Uzbekistan will create a single payment ecosystem: ‘Elkart’ - ‘UZCARD’

On 24 October within the UZCARD FORUM-2024 the heads of UZCARD (Uzbekistan) and ‘Interbank Processing Centre’ ( ‘Elkart’ NPS operator, Kyrgyzstan) signed a memorandum of cooperation. IPC reported about it.

Thus, the heads of national payment systems confirmed their readiness to launch a large-scale joint project, which will allow mutual acceptance of payments on the territories of the two states: for Elkart cards - in Uzbekistan, and UZCARD - in Kyrgyzstan.

The memorandum aims to create intersystem integration through cross-border transaction simplification for cardholders of the two countries, modern technologies introduction in cross-border payments, promotion of new digital solutions, and improving the financial literacy of citizens of both countries.

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Kyrgyzstan and Uzbekistan will create a single payment ecosystem: ‘Elkart’ - ‘UZCARD’

Read Similar

Kyrgyzstan discusses the transition to electronic auditing: the debate over the balance between digital and on-site audits

New retail prices for food, fuel and coal have been set in Kyrgyzstan — monitoring data

An investigation is underway in Kyrgyzstan into the embezzlement of over 4.2 million KGS during the construction of a school

‘Eldik Bank’ to allocate funds to hydroelectric power stations, roads and aviation