The adoption of non-cash payments has not yet become a widespread practice among small and medium-sized enterprises (SMEs) in Uzbekistan. According to data from the Central Bank of Uzbekistan's pilot financial accessibility index, the index for payment service accessibility for this segment was only 19 out of 100 points.
This figure was the lowest among all categories assessed in the report. For comparison, the accessibility of credit products for SMEs was rated at 50 points, and the accessibility of savings products at 44 points out of 100.
The regulator noted that the 31-point gap between credit accessibility and payment services indicates that having a bank account or credit history does not guarantee that a business can conveniently accept non-cash payments or manage cash flows remotely. The overall low score is also due to the low prevalence of registered e-wallets per business entity.
The Central Bank emphasized that the adoption of digital payments is a key link between daily commercial activity and access to credit opportunities. Non-cash income and expenses form a verified turnover history, which allows financial institutions to assess credit risk more accurately.
On the other hand, limited non-cash turnover reduces the availability of real-time financial data for creditors, forcing financial organizations to rely more heavily on collateral requirements and existing credit history when assessing business creditworthiness.
To overcome these obstacles, the regulator has identified priority tasks, including the creation of a unified digital financial channel for enterprises. This channel should integrate accounts, corporate cards, payment acceptance, turnover tracking, and financing within a single service, as well as expanding embedded finance solutions into daily business operations.