BAKU, Azerbaijan, October 24. Cybersecurity, lack of financial literacy, and infrastructure limitations are key challenges in integrating Uzbekistan's payment infrastructure into the global ecosystem, Denis Filippov, General Manager of Mastercard, told Trend.
"The constant growth in the volume of digital transactions and the steady rise in cybercrime require the implementation of the most advanced protection systems. Our cybersecurity and identification systems monitor around 32 million incidents daily, related to various risks. The operation of these systems is largely based on artificial intelligence," said Denis Filippov.
"Mastercard is committed to creating a safe and inclusive digital future by using cutting-edge technologies and services that ensure the cybersecurity of banks as well as financial and non-financial organizations," he added.
He also emphasized the importance of improving financial literacy: "Many users, especially in the regions, still do not fully understand the benefits and mechanisms of digital payments, which limits their active use of new services."
Regarding infrastructure challenges, Denis Filippov pointed out: "In rural areas of Uzbekistan, there is still a lack of stable internet connection and a limited number of POS terminals, which complicates the adoption of digital payments."
To address these issues, Mastercard actively collaborates with regulators, banks, and fintech companies to develop digital infrastructure and implement modern payment security technologies and standards.
"For example, at the beginning of 2025, a project to digitalize small businesses was launched in Uzbekistan, under which 12,000 small enterprises received free access to software for accepting payments via smartphones. This has become a significant support for self-employed individuals and small businesses, especially in remote rural areas with low internet coverage," he added.
"This project is being implemented as part of Mastercard’s global Strive initiative, which supports over 10 million small businesses worldwide by providing them access to capital, markets, and digital solutions," he noted.