UzPaynet company made a profit of about $9.4m in 2022, according to the company's financial report.

The company's revenue last year was over $20mn, which is almost twice less than the 2021 income of about $36mn.

Despite this, the net profit of UzPaynet rose by over $1.4mn in one year. This has reportedly been achieved due to drastic cost reductions.

UzPaynet paid about $1.4mn in taxes in 2021, and in 2022 this figure was just above $752,000.

The company is 100% state-owned and the privatization process began in 2022.

About the company

UzPaynet is the founder and owner of the "Paynet" payment system. It has been operating in the Uzbekistan market since 2005 as one of the largest payment organizations.

More than 390 service providers currently accept payments through the system - mobile communication, Internet, housing, insurance, etc.

More than 1.3mn payments are made daily through the system through 25,000 payment acceptance points and the mobile application.