A dedicated roundtable discussion took place at the Central Bank, focusing on the commissions applied to financial services and the underlying mechanisms of tariff formation. Representatives from major commercial banks and payment organizations gathered to present their respective business models and explain varying approaches to transaction pricing.

Speaking at the event, Ulugbek Rustamov, the founder and head of Click, elaborated on the intricate cost structure involved in card-to-card money transfers. According to his explanation, every peer-to-peer (P2P) transaction engages multiple entities, including processing systems, banks, and payment providers, each generating operational costs that shape the final fee.

Rustamov suggested that zero-fee offers provided by certain market players do not imply an absence of costs. Instead, such practices are typically treated as marketing expenses or a strategic sacrifice of short-term profits. However, he emphasized that banks and dedicated payment organizations possess vastly different revenue-generating capabilities, creating an uneven playing field.

The Click executive noted that traditional banks can leverage customer deposits and balances as financial resources for lending and other profitable operations, whereas payment organizations rely almost entirely on transaction commissions. Consequently, competing against zero-tariff models poses significant operational challenges for independent payment providers.

Source: kun.uz