Payment systems are the infrastructure layer on which cards, transfers and QR rest: national card schemes, interbank processing, instant-payment systems and the rules by which money moves between banks. In Central Asia and Azerbaijan most countries have their own national card scheme, and on top of it instant transfers, QR payment and cross-border corridors develop. This topic ties news about payment infrastructure from different countries into one stable frame.
Payment infrastructure determines how cheaply and quickly money moves. It affects the cost of accepting payments, the speed of transfers and who controls the market's key rails.
National card schemes and interbank processing, instant-payment systems, QR standards, acquiring and the rules of settlement between banks. On top of this run apps, wallets and merchant services.
The launch and development of instant-payment systems, QR interoperability, fees, access to the infrastructure for non-bank players and cross-border links between countries.
The hub ties news about payment infrastructure from different countries so that individual launches read as part of a shared regional picture.
Starting November 16, banks and payment services will bear full financial responsibility for fraudulent transfers made without OTP codes.
The share of cashless payments abroad reached 93%. Online purchases and smartphone transfers drove the growth, while POS terminal transactions began to decline.
The universal payment system was supposed to free entrepreneurs from keeping multiple terminals at the checkout. In practice, the interbank service proved noticeably more expensive than the banks’ own QR solutions.
Local banks have opened access to contactless smartphone payments for customers. Uzbekistan is still preparing its legal framework for the launch.
Freedom SuperApp users will be able to pay for purchases in China by scanning local QR codes. The bank signed a memorandum with the TenPay Global platform.
How the incompatibility of Uzcard and Humo and opaque fees prevent Uzbekistanis from managing money in a single app.
QR codes and instant transfers are the norm. Now, Kazakhstanis value a short, ad-free path and clear payment statuses over a bloated feature set.
The regulator has scheduled negotiations for autumn, while banks await bylaws to transfer data to foreign clouds.