The Uzbek fintech service uPay.net has launched the ability to make direct money transfers to bank cards of the national payment systems HUMO and UZCARD from the USA. The service is primarily aimed at citizens of Uzbekistan living and working in the USA.
The platform was created in New York by entrepreneurs from Uzbekistan, Khusrav Makhmudov and Akmal Abdullaev. Previously, uPay.net could be used to pay for mobile communications, internet, utilities, and other services in Uzbekistan. Now, users have the opportunity to send money directly to HUMO and UZCARD cards.
According to the developers, the service operates in compliance with the financial regulations of the USA and Uzbekistan, and also includes transaction protection measures. A separate banking, technological, and compliance infrastructure was created for its launch.
The project creators intend to expand the geography of transfers, add new financial instruments, and develop digital services for residents of Central Asia.