A historic step has been taken in our country towards the development of the digital economy and the wide opening of doors for international payment systems. On January 20, at a regular meeting of the Legislative Chamber of the Oliy Majlis, important amendments to the Law "On Personal Data" were approved in the first reading. This reform will not only improve the sphere of financial technologies, but will also open the way for the conveniences that millions of our compatriots and tourists are eagerly awaiting.
"Green light" for international payment systems
Modern payment solutions have become a vital necessity for increasing the volume of non-cash payments and expanding the tourism potential of Uzbekistan. Until now, the existing requirements created certain obstacles for the entry of international giants into the domestic market.
- What is changing? According to the new draft law, the types of information that must be stored on the territory of Uzbekistan are being clarified.
- Security and standard: Some data may be stored and processed abroad, provided that strict international security standards and the requirements of competent authorities are met.
- Purpose: To attract foreign investments to the country and create opportunities for our citizens to use world-class digital services.
Apple Pay and Google Pay: Now it's our turn!
These legislative updates will, first of all, lay the foundation for the official launch of global services such as Apple Pay and Google Pay in Uzbekistan.
- Apple Pay: the ability to pay instantly in stores and on websites using an iPhone or Apple Watch. Your card number is invisible to the seller, all data is protected by encrypted "tokens" and Face ID/Touch ID biometric protection.
- Google Pay: A convenient and secure contactless payment method for owners of Android devices. With the help of NFC technology, you can make purchases by touching your smartphone to the terminal.
The next address is the Senate
This draft law, adopted by the deputies, has now been sent to the Senate. The entry into force of this document will strengthen Uzbekistan's position on the digital map. Now our compatriots will not have to carry a plastic card in their wallets - a smartphone is enough!
These changes will be a great relief not only for the local population, but also for guests arriving in our country. Tourists will be able to easily make purchases throughout Uzbekistan using the payment methods they have learned.
Are you waiting for the arrival of Apple Pay or Google Pay services in Uzbekistan? Which one is more convenient for you?
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