As part of a strategic partnership, Uzcard and Payme have launched a payment system using Tez QR technology. This project aims to develop cashless and digital payments in Uzbekistan's retail sector, introducing innovative solutions to streamline transaction processes and enhance consumer convenience.
Through the integration, over 15 million Payme app users have gained the ability to pay for purchases with their smartphones at more than 110,000 retail points across the country wherever Tez QR is operational. This initiative is expected to reduce cash circulation and accelerate digitalization efforts, though its long-term effectiveness and adoption rates remain to be seen in a market still adapting to such technologies.
To mark the launch, Payme has announced a promotion: users will receive 3% cashback on each receipt when paying via Tez QR in the app. Accumulated cashback can be utilized under an active Payme Plus subscription. Detailed terms of the promotion are available via a link, potentially encouraging more frequent use of the service, albeit with possible limitations or fine print that could affect user benefits.
How does Tez QR work? It is a one-time QR code generated at the point-of-sale terminal during payment. To complete a transaction, users simply inform the seller of their intent to pay by card, open the Payme app, scan the QR code on the terminal, and confirm the payment. The purchase amount is embedded in the code, eliminating the need for manual entry, and no physical card is required.
Purchases can be paid for using Uzcard cards, Humo cards, e-wallets, and other bank cards linked in the Payme app. With an active Payme Plus subscription, additional options are available: selecting the method of fund deduction, using the "Pay Later" service, and paying for purchases with accumulated cashback, which may add complexity for some users.
Security of the transaction is ensured as card data and PIN codes are not transmitted to the merchant—payment confirmation occurs directly within the app. While these measures are designed to protect user information, ongoing concerns about digital security and potential vulnerabilities in such systems persist, highlighting the need for continuous vigilance in the fintech space.
Source: podrobno.uz