Representatives from the National Payments Corporation of India (NPCI) met with officials from Uzbekistan’s National Payment Systems, HUMO, at the Central Bank of Uzbekistan. The discussions centered on advancing digital payment systems and fostering collaboration in the fintech sector.
NPCI representatives presented insights into India's digital payment landscape, highlighting the unique features of their payment systems, including popular services and cutting-edge technologies that ensure compliance with cybersecurity standards. This exchange aimed to enhance Uzbekistan's payment infrastructure and explore opportunities for mutual growth.
Key topics included the potential integration of India's Unified Payments Interface (UPI) with HUMO and UZCARD systems, aimed at streamlining transactions and enhancing user experiences in Uzbekistan. The parties expressed a strong commitment to cooperate on improving cybersecurity measures, essential for the development of robust payment systems.
The dialogue also addressed current trends in the global payment market, leading to an agreement to establish a common payment network between Uzbekistan and India. This network will focus on bilateral money transfer systems and technological advancements, promising to deepen the partnership between both nations and enhance financial accessibility.
NPCI International, a subsidiary of NPCI, is renowned for innovative solutions such as UPI and RuPay, which facilitate real-time payments and promote financial inclusion. The insights shared during the meeting open new avenues for collaboration and development in digital payment technologies.
Both sides concluded the meeting with a mutual commitment to continue exploring opportunities in digital payments and enhance cooperation in the fintech space.
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Comments (1)
How it will benefit Indian students in UZBEKISTAN?