Central Bank announces launch of national payment switch for domestic transactions by 2027

Uzbekistan's Central Bank has revealed plans to introduce a national payment switch system by 2027, designed to manage all internal currency transactions. Jamshid Usmonov, head of the Payment Systems Development Department at the Central Bank, confirmed the initiative.

Usmonov stated that the project is progressing according to a schedule outlined in a presidential decree. Work is currently underway to establish the necessary regulatory and legal frameworks, with technical implementation scheduled for subsequent phases.

The Central Bank official clarified that this national payment switch will create a unified infrastructure for domestic financial activities. Presently, some transactions involving international bank cards are processed through overseas centers. The new system will ensure that all such operations are handled entirely within Uzbekistan.

"The national switch will lessen our reliance on foreign entities and guarantee that payment data is processed domestically," Usmonov remarked.

He also highlighted that the new system will substantially bolster the robustness of the nation's payment infrastructure and elevate data protection measures.

This announcement follows the introduction of the Unified UzQR system in July 2026. The Central Bank recently clarified that the uniform 0.65% transaction fee associated with this system is applied to commercial and service businesses, not individual consumers.

The Unified UzQR functions as a centralized platform, enabling users to complete payments using a single QR code via any bank or payment application. Its main goals are to foster greater integration among diverse banking and payment services and to accelerate the adoption of cashless transactions throughout the country.