Uzbek payment system Paynet has launched the Nasiya installment service, which allows purchasing goods without a down payment. The service operates through a partner network of more than 400 stores across Uzbekistan.
How the service works
The mechanics of Paynet Nasiya consist of four steps. First, the user submits an application for an installment limit—the request is sent to a partner bank. After reviewing the application, the bank reports the available limit amount.
Next, the buyer chooses a store from the partner network—the offer is valid for 72 hours after the limit is approved. At the final stage, payment is processed through Paynet Nasiya using the bank limit—nothing needs to be paid upfront.
The service is integrated into the ecosystem of Paynet, one of the largest payment systems in Uzbekistan. The company processes payments for utilities, mobile communications, and e-commerce.
Market context
The launch of Nasiya demonstrates the development of the BNPL (buy now, pay later) segment in Uzbekistan. Previously, installments in the country were mainly offered by banks through special cards with purchase limits.
Paynet integrates installments into its payment infrastructure, which can simplify the process for retail outlets. Partners do not need to connect to a separate BNPL provider—it is enough to work with an already familiar payment system.
Why it matters
For the Uzbek market, this is a signal that local payment systems are beginning to compete with international BNPL solutions like Klarna or Affirm. The main point here is that Paynet uses its existing infrastructure to quickly scale installments—this may prove more effective than creating a separate fintech startup.
The partner network of 400+ stores shows the company’s serious ambitions. This is larger than many bank installment programs in the region.
What’s next
The success of the service will depend on the installment terms—interest rates, repayment periods, and borrower requirements. These details have not yet been disclosed.
It is also important how Paynet resolves issues with partner banks. The system acts as an intermediary between the buyer and the bank that issues the limit. The quality of underwriting and the speed of application approval will affect the user experience.
For other payment systems in the region, this could be a signal to develop their own BNPL products.