BAKU, Azerbaijan, Oct. 24
By Fakhri Vakilov-Trend:
According to the VISA international payment system, while the company’s annual turnover in Uzbekistan with payment cards has reached approximately $80 million, it may exceed $3 billion, Trend reports citing the press service of Uzbekistan’s Foreign Ministry.
VISA Vice President for Government Relations, Latin America and the Caribbean Salvador Perez-Galindo stated that at present, the acceptance of VISA payment cards in the network of terminals in Uzbekistan is significantly limited. The annual turnover on VISA payment cards in Uzbekistan is only $80 million. In the case of ensuring the acceptance of VISA payment cards in the entire network of terminals of the country, the annual turnover may exceed $3 billion.
Speaking at the Uzbek-American business forum at Uzbekistan’s Embassy in Washington, Galindo said that within the framework of the memorandum between VISA and the Central Bank of Uzbekistan signed in May 2019, the company is ready to implement joint programs to create a digital payment infrastructure in Uzbekistan, expand the electronic payment acceptance network, and develop normative acts aimed at the development of digital payments.
The vice-president also praised the large-scale reforms being carried out in Uzbekistan, noted that this trend gives a great impetus to increasing the investment and tourist attractiveness of Uzbekistan throughout the world.
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