BAKU, Azerbaijan, November 11. UZCARD is actively working on expanding its range of card products and acquiring solutions, Olimjon Zakirov, Commercial Director of LLC UCMG, told Trend.
According to him, the company is developing a diverse range of cards tailored to different user segments, including premium cards, business cards, procurement cards, fan cards, and children’s cards, each accompanied by exclusive offers from partner merchants.
"At the same time, efforts are underway to implement a unified, integrated loyalty system, enabling the accrual of points and cashback not only on UZCARD payment system cards but also on other cards and cash transactions," Zakirov stated.
The Commercial Director further highlighted that the company is advancing acquiring solutions for both card-present and card-not-present scenarios. These initiatives include dynamic QR payments on modern POS terminals with integrated fiscalization, card tokenization with subsequent SDK transfer to mobile banking and fintech applications, as well as SoftPOS Tap-to-Pay technologies, allowing payments via mobile devices.
"We are not limiting ourselves to traditional methods and are actively exploring innovative payment options using biometrics, such as Face-pay and Palm-pay," he added.
Zakirov noted that it is difficult to predict in advance which payment technology will become dominant in any given country. "The entry of Apple Pay and Google Pay into the Uzbek market will undoubtedly create convenience and comfort for users. However, it is unlikely to completely change the customer experience in Central Asian markets, where QR codes remain the primary payment method," he emphasized.
He also highlighted that the growth of digital assets, including cryptocurrencies and stablecoins, is driving demand for their acquisition by merchants. Most merchants prefer receiving funds in fiat currency for practical use. In this context, QR payments serve as a "railway for acquiring" digital assets on POS terminals, bridging traditional banking systems and DeFi.
"Developing markets provide an excellent opportunity to test and implement various innovative payment solutions," Zakirov concluded.