TASHKENT, Uzbekistan, March 31. Uzbekistan’s national payment system HUMO and Mongolia’s Takara Solutions, a subsidiary of Mongol ID Holdings, have signed a memorandum of understanding to develop cross-border payment solutions between the two countries, Trend reports via HUMO.
The signing ceremony was attended by Ambassador Extraordinary and Plenipotentiary of Mongolia to Uzbekistan Batbaatar Daadankhuu and Trade Adviser at the British Embassy in Tashkent Komila Khamidova, highlighting the international scope of the partnership.
According to the statement, the first phase envisages the launch of mutual acquiring, allowing HUMO cardholders to make payments in Mongolia and users of Mongol ID services to pay in Uzbekistan.
In subsequent stages, the sides plan to ensure interoperability of QR-code payments.
The initiative is aimed at simplifying cross-border transactions and promoting the development of cashless payments, creating new opportunities for both consumers and businesses.