TASHKENT, Uzbekistan, September 13. The Central Bank of Uzbekistan (CBU) has revoked the license of United Payment Solution JSC to carry out activities of payment organizations, the CBU told Trend.
The company's inaction within the first year after acquiring the license led to its revocation. This led to the company's removal from the payment organization's registry.
Meanwhile, the CBU has revoked the licenses of Payment Aggregation Systems and Yurt Pay. This was caused by the decision of their founders to terminate the activities of the organizations.
In addition, the committee laid down the law on 11 banks for not playing by the rules of the current legislation and economic norms set by the Central Bank of Uzbekistan.
In November 2023, Uzbekistan's president signed a decree "On measures to strengthen the protection of the rights of consumers of digital products (services) and fight against offenses committed through digital technologies."
According to this decree, payment system operators and payment organizations will be able to operate exclusively in the form of a joint stock company as of July 1, 2024.