Uzbekistan Launches Unified QR Payment System, Clarifies Requirements
Uzbekistan has launched its unified QR code payment system, UzQR, which will become mandatory for legal entities in the trade and service sectors starting July 1, 2026. This new system requires businesses to accept payments exclusively through the UzQR code. However, this has raised questions among entrepreneurs regarding the continued use of existing QR codes from popular payment services like Payme, Click, and Uzum. The Central Bank of Uzbekistan has clarified that businesses are not required to remove other QR codes. Furthermore, the Central Bank stated that pressuring entrepreneurs to remove these existing payment options would be illegal. This initiative aims to streamline payment processes across the country.
The introduction of the UzQR system represents a move towards standardizing digital payments within Uzbekistan, potentially enhancing efficiency and oversight. The Central Bank's clarification addresses concerns about market competition and technological integration, ensuring that existing payment providers can coexist with the new national standard. This approach balances the government's objective of a unified system with the need to support a diverse and competitive fintech ecosystem, avoiding abrupt disruptions for businesses and consumers. The long-term success will depend on user adoption, the system's technical reliability, and its ability to foster innovation rather than stifle it.
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