TASHKENT, Uzbekistan, December 11. Uzbekistan’s HUMO payment system and Kyrgyzstan’s Elkart system have unveiled a collaborative initiative aimed at facilitating mutual acquiring services, Trend reports.
The new integration between Uzbekistan’s HUMO payment system and Kyrgyzstan’s Elkart network will enable HUMO cardholders to make purchases and withdraw cash across Kyrgyzstan. Similarly, Elkart cardholders will have full access to HUMO’s nationwide payment infrastructure in Uzbekistan.
This partnership unlocks significant opportunities for both individuals and businesses in the two countries:
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Convenience for travelers and labor migrants: Cardholders can now make payments and withdraw cash without the need for currency exchange or reliance on international payment cards.
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Support for businesses in border regions: Merchants will be able to accept cards from the neighboring country without incurring additional costs or needing to connect to international payment systems.
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Faster transactions and lower costs: Transactions will be processed directly through the national systems of Elkart and HUMO, resulting in quicker and more cost-efficient operations.
The signed memorandum sets the stage for a unified intersystem infrastructure that will significantly streamline cross-border transactions, making them simpler and more efficient for cardholders from both nations.
HUMO (National Interbank Processing Center) is Uzbekistan’s national payment system, integrating payment participants, instruments, technological solutions, and interbank money transfer systems. The system enables the circulation of funds within the country and supports integration with international payment networks.