Kyrgyzstan and Uzbekistan launch joint acquiring between "Elkart" and HUMO

LLC “Interbank Processing Center,” the operator of the national payment system “Elkart,” and Uzbekistan’s national payment system HUMO have announced the launch of a joint project on mutual acquiring.

As part of the integration, HUMO cardholders will be able to make purchases and withdraw cash in Kyrgyzstan within the “Elkart” coverage area. Elkart cardholders will have similar opportunities when traveling to Uzbekistan. The project aims to simplify cashless payments for citizens of both countries, enhance travel convenience, and foster cross-border financial cooperation.

Benefits for customers and businesses include convenience for travelers and labor migrants, as payments and cash withdrawals are available without currency exchange or the use of international cards. Merchants will be able to accept payments from cards of neighboring countries without additional costs for connecting to international payment systems, and transactions will be processed directly through the national systems “Elkart” and HUMO, reducing costs and speeding up transactions.

At the current stage, Elkart cards are accepted by cardholders of JSC “Ayl Bank,” and HUMO cards are serviced at the same bank’s devices. LLC “MPC” is actively working on connecting other banks to expand the network for accepting HUMO cards in Kyrgyzstan and Elkart cards in Uzbekistan.

The signed memorandum lays the foundation for a unified inter-system infrastructure between the two national payment systems. The project involves the implementation of modern digital technologies, ensuring convenient, secure, and modern payments, as well as improving financial literacy among citizens.

Source: Economist.kg