Kyrgyzstan's national payment system, Elkart, and Uzbekistan’s Humo payments platform are set to embark on a project, aiming to establish a mutually beneficial arrangement for payment security and authorizations, as announced by Kyrgyzstan’s Interbank Processing Center (IPC).
Kanykei Zhamangulova, Chair of the Board of the Kyrgyz IPC, expressed optimism about the venture, emphasizing its potential to not only elevate the financial ecosystems of both nations but also to catalyze development across various sectors. The project, she stated, would chart new horizons in bilateral cooperation.
Negotiations between payment organizations from Kyrgyzstan and Uzbekistan have been underway since the previous summer, with a focus on formulating a mutual acquiring framework. Last year's discussions in Bishkek laid the groundwork for cooperation in money transfers and internet payments. Shukhratbek Kurbanov, director of the Humo payment system, highlighted the collaborative efforts aimed at combating fraudulent transactions and facilitating seamless payment experiences for citizens of both countries.
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