New rules have been approved in Uzbekistan that allow for money transfers between private individuals using only a mobile phone number. This new mechanism eliminates the need to specify the recipient's full bank account number when sending funds from a bank account.
This decision was officially registered with the Ministry of Justice of the Central Bank on August 24. Operations will be conducted via the Real-Time Payment System.
To make a transfer, the user only needs to enter the recipient's phone number or a special linking code in the bank's mobile application. The system will automatically collect the necessary information and identify the associated bank account. Before confirming the transaction, the sender will be shown the recipient's information, including their first and last name, bank name, total amount, and commission fee, allowing them to verify the data.
After confirmation, the bank generates a payment document, which must then be confirmed by the recipient's bank for the funds to be credited to the corresponding account. All such transfers through the mobile application will be available continuously, 24/7.
To activate this service, the phone number must first be linked to a bank account. It is important to note that within one bank, one number can only be linked to one account; registering a new number in the application will automatically replace the old link.
If both the sender and the recipient use the services of the same bank, a transfer through the Real-Time Payment System will not be required. The rules also provide the option to revoke the number linkage at any time through the mobile application or in person at the bank. Furthermore, the bank has the right to independently disable this linkage, for example, when closing a user's account or if they are placed on a relevant list.
The new rules will come into effect on November 24, 2026, which is three months after the official publication of the Central Bank's decision.
It was previously mentioned that Uzbekistan plans to launch Apple Pay and Google Pay payment systems. This resulted from agreements reached during President Shavkat Mirziyoyev's visit to Washington, where he met with representatives of major American investment funds and corporations.
