TASHKENT, Uzbekistan, February 20. The volume of transactions on Uzbekistan’s Payme payment service reached its peak in the last quarter of 2023, totaling 2.6 billion lari ($986.8 million), Trend reports.
The number of payments made through the Payme application increased by 29 percent and amounted to 9.5 billion lari ($3.6 billion). There was a slight decrease in the volume of transactions in the first and third quarters.
Out of 2.6 billion lari ($986.8 million), three-quarters were transactions between individuals' cards (P2P transfers). Another 20 percent were payments for services, and the rest were payments for housing and utility services and other needs.
The number of registered Payme users reached 11.6 million, up 3.4 million over the year. Of these, 3.3 million make payments through the application at least once a month, and 1.2 million use it daily.
In 2020, the Georgian TBC Bank started banking operations in Uzbekistan and opened its first branch in Tashkent.
Today, TBC Group Uzbekistan represents three fintech companies in Uzbekistan: TBC Bank Uzbekistan, TBC Installment, and Payme Payment Service.
TBC Group has fully owned Payme since May 2023. The group's year-end profit in Uzbekistan reached 59 million lari ($22.3 million), or 5.2 percent of its total revenues (1.1 billion lari, or $417.4 million).
