Wildberries, a prominent e-commerce platform based in Russia, is gearing up to extend its reach into the financial services sector in Uzbekistan. This strategic move, planned for the medium term, involves the establishment of a bank in Uzbekistan to offer a range of financial services tailored to the local market. Sardor Kadyrov, the GR director of Wildberries in Uzbekistan, disclosed this plan during discussions with Spot on April 13.
The decision to venture into financial services comes hot on the heels of Wildberries' recent milestone in Russia. Tatyana Bakalchuk, the founder and CEO of Wildberries, announced during a press conference on April 13 that the company had obtained a banking license in Russia to drive its fintech development initiatives. However, Bakalchuk emphasized the importance of developing customized solutions for each country where Wildberries operates.
Bakalchuk further elaborated on Wildberries' existing presence in Uzbekistan through its subsidiary, WB Travel. She revealed that WB Travel is already operational in Uzbekistan and has enabled users to make payments using local payment systems. This development signifies a significant expansion beyond the borders of the Russian Federation, extending WB Travel's services to other CIS countries, including Belarus, Armenia, Kazakhstan, and Kyrgyzstan.
Following this expansion, Wildberries officially launched the WB Travel service for users in these countries. The service allows users to book airline tickets and travel services using local bank cards, facilitating seamless transactions. Sardor Kadyrov affirmed that WB Travel collaborates with all local payment systems, ensuring accessibility and convenience for users.
Bakalchuk reiterated Wildberries' commitment to fostering transnational projects that transcend national boundaries. She emphasized the company's goal of making its fintech programs available in every country where it operates, underscoring Wildberries' ambition for global reach and inclusivity.
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