Uzbekistan Expands Instant Payment System for Individuals

Tashkent, Uzbekistan (UzDaily.com) — On 27 November, President Shavkat Mirziyoyev signed a decree on the development of financial technologies, which includes expanding the functionality of the Instant Payment System (IPS) and connecting individual users.

The President instructed the Chairman of the Central Bank, Timur Ishmetov, to ensure that, by 1 February 2026, citizens can make real-time transfers directly between their bank accounts through the IPS.

Under the 2025–2026 fintech support program, users will be able to send transfers using their mobile phone numbers. The regulator is tasked with enabling person-to-person (P2P) transfers within the system and providing payment service providers access to these operations via OpenAPI.

In April, Miraziz Mirkhayotov, Deputy Director of the Central Bank’s Payment Systems Department, noted that plans to connect citizens to the IPS were already under development. Currently, the service is available to legal entities and individual entrepreneurs, and expanding it to the public is expected to have a significant social impact.

According to the Central Bank, in 2024 the IPS processed 47.6 million transactions totaling UZS 917.9 trillion, with both indicators increasing by more than 50% compared to the previous year.