According to data from the Central Bank of Uzbekistan's pilot financial accessibility index, over two-thirds of all non-cash transactions in Uzbekistan are conducted in the form of person-to-person (P2P) transfers, while payment for goods and services using cards remains limited.
Overview of Digital Payments
The regulator reported that P2P transfers constitute 69 percent of the total volume of payment operations. The Central Bank noted that although this figure indicates a formed habit among the population of sending money through digital channels, the concentration of transactions in monetary transfers points to a narrow operational scope of digital payments overall.
Furthermore, the data shows that despite adult residents owning an average of 3.2 bank cards, only 53 percent of these cards are actively used. The index measuring the actual use of payment instruments among the public received 34 out of 100 points, which is the lowest result among all assessed categories of financial products, even though the availability of payment infrastructure was rated at 64 points.
Situation with Small and Medium Enterprises
The discrepancy is particularly evident among small and medium-sized enterprises (SMEs). The index of payment service accessibility for SMEs scored only 19 out of 100, which was the lowest indicator in the entire report and reflects the low degree of adoption of non-cash payment acceptance tools among small businesses.
To address this gap, the Central Bank intends to focus efforts on expanding the use of digital payments beyond simple fund transfers. Key areas of work include stimulating the payment of retail purchases, utility bills, and regular expenses using cards, as well as developing procurement infrastructure for commercial organizations.