A single payment switch is being introduced for processing interbank payments
The Central Bank has approved the rules for processing retail payments through the national payment switch. The system, which will begin operating under the new rules on January 25, 2027, will provide round-the-clock processing and clearing of interbank payments in the national currency using bank cards and electronic money.
A single payment switch is introduced for processing interbank payments
By the decision of the Board of the Central Bank (reg. No. 3960 dated 23.10.2026), the Regulation on the procedure for making retail payments via a payment switch was approved. The document will come into effect in three months.
According to Presidential Decree No. PP-359 dated 27.11.2025 "On measures for the further development of the financial technology sector in Uzbekistan," provision is made to create the capability for individuals to make direct real-time transfers through their bank accounts in the CB's Instant Payment System.
The payment switch is a unified infrastructure that ensures the receipt, routing, processing, authorization of requests, clearing, generation of settlement documents, preparation of reports, and exchange of information within the country.
At present, part of the transactions on international bank cards is processed by foreign processing centers, whereas the national switch makes it possible to move the processing of such operations to Uzbekistan.
The payment switch will become a single channel for transmitting and processing payment information. Instead of separate data exchange routes, operations provided for by the rules will pass through a single switch of the Central Bank.
Requests for confirmation of operations and payment messages will be transmitted through this infrastructure. The implementation of the national switch will increase the resilience of the payment infrastructure, as well as the level of security and stability of payments.
The Regulation determines the procedure for organizing, executing, and controlling interbank payments in the national currency conducted via bank cards and electronic money on the territory of Uzbekistan, as well as their clearing through a single payment switch.
The new rules come into force on January 25, 2027, with the system operating around the clock, 24/7, without days off.
Only banks can be direct participants in interbank settlements. Payment organizations and payment system operators are allowed to connect to the infrastructure directly, but they must conduct settlements through a servicing settlement bank.
Banks and other connected organizations are prohibited from independently changing the details of a payment order or conducting operations without the client's consent. System participants are also obliged to maintain the confidentiality of payment information and ensure the protection of personal data.
The document was published in the National Database of Legislation in the official language and will come into force on 25.01.2027.