BAKU, Azerbaijan, May 13
By Ilkin Seyfaddini - Trend:
Individuals who own electronic wallets in Uzbekistan will be able to pay for goods or services, at once for 22.3 million soum ($2,200), Trend reports citing Uzbek media.
Such limit is set in the Rules on the issue and circulation of electronic money on the territory of Uzbekistan, developed by the Central Bank of Uzbekistan.
"This limit applies to an identified electronic wallet. For an unidentified electronic wallet, the maximum amount per transaction should not exceed 223,000 soum, or $22. At the same time, an amount exceeding 1.1 million soum, or $110 cannot be stored on e-wallet. There is no storage limit for an identified wallet. Special electronic wallet, which can be started by individual entrepreneurs or legal entities, has no limits neither for storage nor for transactions, but the rules specify that it is used only to accept electronic money for sold goods or services," the document says.
The rules allow that electronic money may be used in exchange operations between different systems or within the same system, where there are several issuers.
The Central Bank notes that the launch of a new payment instrument, will help optimize the costs of individuals and business entities. The regulator plans to develop e-commerce through the expansion of the payment services market and the launch of modern types of Internet trading.
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