Tashkent, Uzbekistan (UzDaily.com) — On 24 October 2024, during the UZCARD FORUM 2024, a Memorandum of Cooperation was signed between JSC "National Interbank Processing Center" (UZCARD) and JSC "Interbank Processing Center" (operator of the national payment system Elkart in the Kyrgyz Republic). This partnership marks a new stage in the development of electronic payments between Uzbekistan and Kyrgyzstan.

The memorandum aims to improve interaction between the UZCARD and Elkart payment systems, opening up new opportunities for consumers and businesses in both countries. The primary goals of the cooperation are the introduction of advanced technologies for cross-border payments, support for healthy competition, and the promotion of new digital solutions.

Key areas of cooperation:

- Cross-border payments: Joint efforts will be focused on simplifying cross-border payment transactions, cash withdrawals, and money transfers for cardholders of both payment systems.

- Digitalization and new solutions: The introduction of modern information technologies and support for new solutions in the payment services market to improve accessibility and convenience for the population.

- Financial literacy: Joint PR campaigns will be conducted to promote electronic payments and enhance the financial literacy of citizens in both countries.

- Progressive projects: Development and implementation of joint projects to improve the payment system and enhance the quality of financial services.

The memorandum envisions significant benefits for both countries, contributing to the development of e-commerce and cashless payments. The introduction of new technologies and simplification of cross-border payment operations will create conditions for the growth of entrepreneurship and expanded access to financial services, which in turn will improve the convenience and security of payments for citizens of both countries.

The cooperation between UZCARD and Elkart will enhance the quality of service in the banking sector, fostering a more competitive environment in the payment services market. Joint projects to improve the financial literacy of the population will also make an important contribution to the development of economic culture.

Thus, the integration of the national payment systems UZCARD and Elkart will open up new opportunities for the development of financial infrastructure in both countries and will give a new impetus to the growth of various industries, stimulating mutual trade, tourism, and economic cooperation between Uzbekistan and Kyrgyzstan.

It should be noted that UZCARD FORUM 2024 is a major event in the field of financial technologies, dedicated to the 20th anniversary of UZCARD. Held for the second consecutive year, the forum brings together leaders of Uzbekistan's banking and fintech sectors on one platform.

---

Let me know if you'd like any modifications!