BAKU, Azerbaijan, December 18. Mastercard aims to continue deepening its partnership with Uzbekistan in a variety of areas, Denis Filippov, Mastercard’s Country Manager in Uzbekistan and Belarus told Trend.
“We collaborate closely with Uzbekistan's Central Bank, and we have several cooperative projects targeted at improving the country's payment sector. Many of them are concerned with cybersecurity, fraud risks, compliance management, and fraud protection,” he said.
Filippov noted that the company also continues to work with individuals, offering Mastercard cardholders unique opportunities and favorable offers.
“Another promising area is the provision of payment solutions for retail, including marketplaces. The use of ready-made platforms and developments will allow Uzbek companies to reduce investments in innovation. This is especially important for small and medium-sized businesses that do not have enough available funds to invest.
The third area of Mastercard's activity in the Republic is the introduction of analytical platforms that allow companies to evaluate the effectiveness of operational activities and promotional activities, as well as the development of consulting support. We have already launched a number of data and services consulting projects in Uzbekistan,” Filippov said.
The regional manager added that the joint efforts of Mastercard and the government of Uzbekistan will contribute to strengthening economic stability in the region, as the improvement of payment technologies will increase the convenience of everyday payment transactions for the population as well as act as a stimulator of economic growth.
“We are confident that Mastercard's initiatives will open up new business opportunities in the country. We work closely with the Central Bank of Uzbekistan, the Ministry of Digital Technologies, the Agency for Strategic Reforms under the President of Uzbekistan, and other government organizations. And, as in any country of presence, we aim to resolve emerging issues through an open dialogue,” the company representative concluded.
Meanwhile, in October 2023, Mastercard and the Ministry of Ecology, Environmental Protection, and Climate Change of Uzbekistan signed a Memorandum announcing the beginning of joint work between Uzbekistan and the Mastercard Center for Tourism Innovations.
Moreover, the first working meeting between Mastercard and the Ministry was already held in November 2023.
As per data from Uzbekistan’s Tourism Committee, 4.9 million tourists visited Uzbekistan from January through September 2023. The number of foreign tourists visiting the country in 2022 amounted to 5.23 million.
