P2P Transfers Account for 69% of Uzbekistan Digital Payments

Tashkent, Uzbekistan (UzDaily.uz) — More than two-thirds of all cashless payment transactions in Uzbekistan consist of person-to-person (P2P) transfers, while card payments for goods and services remain limited, according to findings from the Central Bank of Uzbekistan's pilot financial inclusion index.

The regulator reported that P2P transfers account for 69 percent of total payment operations. The Central Bank noted that while the metric demonstrates a well-established habit among the population of sending money via digital channels, the concentration of transactions in money transfers indicates a narrow operational scope for digital payments overall.

The data further shows that although adult residents hold an average of 3.2 bank cards, only 53 percent of these cards are actively used. The index measuring actual payment tool usage among the public scored 34 points out of 100—recording the lowest result among all evaluated financial product categories—despite payment infrastructure availability scoring 64 points.

The disparity is more pronounced among small and medium-sized enterprises (SMEs). The payment service availability index for SMEs scored 19 points out of 100, marking the lowest score across the entire report and reflecting low adoption of cashless payment acceptance tools among small businesses.

To address the gap, the Central Bank outlined plans to prioritize expanding digital payment usage beyond fund transfers. Key focus areas include encouraging card payments for retail purchases, utility bills, and routine recurring expenses, alongside developing merchant acquiring infrastructure for businesses.