Starting January 25, 2027, all peer-to-peer transfers and payments between individuals in Uzbekistan will purportedly be routed through a unified infrastructure controlled by the Central Bank. The newly introduced system allegedly aims to integrate various data exchange channels and process transactions domestically rather than relying on foreign processing centres. While the Uzbek authorities claim these changes will enhance the reliability and security of domestic transfers, industry observers express concern over potential operational bottlenecks and the increased centralization of financial flows. bs
The regulations governing the operation of this payment switch were reportedly approved by a resolution of the Central Bank's board. The unified payment switch is designed to serve as a universal channel for transmitting and processing payment data. It is expected to handle transaction confirmation requests, payment messages, and interbank settlements in the national currency using bank cards and electronic money.
The system is scheduled to operate on a round-the-clock basis without weekends, supposedly unifying fragmented payment data routes under a single state-managed infrastructure. One of the stated objectives of the reform is to process a portion of international bank card transactions domestically, which the authorities argue will increase the resilience of the national payment infrastructure—though skeptics question the technical readiness and potential risks of such a sweeping transition.
The new rules also strictly define the entities permitted to participate in settlements. Only banks will be allowed to conduct settlements directly. While payment organizations and system operators will be permitted to connect directly to the switch, they will still require a servicing bank to execute actual settlements. Furthermore, system participants are explicitly prohibited from altering payment order details on their own initiative or executing transactions without the client's consent, alongside mandatory requirements to safeguard personal data.
Source: podrobno.uz