Payment organization Multicard Payment (brand Rahmat) and Asia Alliance Bank officially announced the start of long-term cooperation on February 20. The memorandum was signed by Asia Alliance Bank Chairman Umidjon Abduazimov and Multicard Payment CEO Avaz Mutalov.
The agreement establishes a foundation for long-term collaboration between two major and dynamically developing players in Uzbekistan's payment market. The parties plan to jointly develop payment infrastructure, expand acquiring coverage, and offer comprehensive fintech solutions, primarily targeting small and medium-sized businesses nationwide.
This partnership combines banking reliability with modern fintech technologies. Asia Alliance Bank brings years of experience, an extensive network, and customer trust, while Rahmat contributes technological flexibility, innovative payment solutions, and expertise in cashless payments. Together, they are creating a single access point for entrepreneurs to acquiring and banking services, systematically reducing barriers to transitioning to cashless payments.
Under the agreement, the parties plan to:
- implement advanced IT solutions in the retail payments sector, considering security and transparency requirements;
- expand mobile transaction capabilities for bank customers and Rahmat users;
- launch joint marketing campaigns, offering users attractive bonuses, cashbacks, and exclusive loyalty programs.
The parties paid special attention to data protection: the partnership will utilize modern information security protocols and compliance control tools, ensuring a high level of trust from both businesses and end-users.
Such partnerships between banks and fintech platforms are becoming a key factor in the development of Uzbekistan's payment market. Expanding cashless payments enhances economic transparency, reduces operational costs, and makes financial services more accessible to businesses of all sizes, aligning with the country's digital transformation vector reflected in the "Digital Uzbekistan – 2030" strategy.
Source: podrobno.uz