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Uzum

Uzum Bank powers payments within the wider Uzum ecosystem and for third-party businesses

Method
Uzum
LPM Market Share
40%
Payments
Yes
Refunds
Yes - full refunds only
Type
Bank Transfer
Local Card Scheme
Users
16M
Disbursements
No
No
Chargebacks
$25.00
Authorization currency
UZS
Authorization
speed
< 1 minute
Recurring
No
No

Reasons for Popularity

Rapid Growth and Brand Recognition: The brand is widely recognized, with surveys indicating that about 80% of residents are familiar with Uzum, and 72% consider it their primary choice for online shopping

User-Friendly Features: Uzum offers features such as a buy-now-pay-later (BNPL) scheme that has gained traction, with nearly half of its transactions utilizing this service. This flexibility in payment options appeals to consumers looking for convenience

Government Support and Digital Initiatives: The Uzbek government has been promoting digitalization across various sectors, which has contributed to the growth of platforms like Uzum that facilitate online commerce and financial services