This thesis explains the impact of digital payment systems in Uzbekistan by analyzing both local payment methods, like Click, Payme, and Uzum bank, and international payment methods, like Visa and Mastercard. While local payment platforms are dominant among the Uzbek people for peer-to-peer transactions because of their low costs, localization, and easy-to-use structure, international digital payment systems are mostly used for their availability for cross-border transactions. In this thesis, we look over each platform’s features, strengths, and weaknesses, usage rates, Uzbekistan’s current situation, and future plans for digital payment systems.

digital payment systems, fintech, financial inclusion, mobile payments, local platforms, international platforms, user experience, adoption rates, cashless economy.

Boboev, S. (2023) 'Deep dive: payments in Uzbekistan', Medium, 7 October.

https://samboboev.medium.com/deep-dive-payments-in-uzbekistan-f07981902911

Central Bank of the Republic of Uzbekistan (2024a) Financial stability report for 2024 H1. https://cbu.uz/en/press_center/releases/1914854/

Central Bank of the Republic of Uzbekistan (2024b) Statistical bulletin of the Central bank - 2024 December. https://cbu.uz/en/statistics/buleten/2156649/

Dahlberg, T., Mallat, N., Ondrus, J. and Zmijewska, A. (2008) 'Past, present and future of mobile payments research: a literature review', Electronic Commerce Research and Applications, 7(2), pp. 165-181.

Daryo News (2024) 'Navigating Uzbekistan's money transfer systems: a guide to international and local payment solutions', Daryo, 8 October. https://daryo.uz/en/2024/10/08/navigating-uzbekistans-money-transfer-systems-a-guide-to-international-and-local-payment-solutions

Gawer, A. and Cusumano, M.A. (2014) 'Industry platforms and ecosystem innovation', Journal of Product Innovation Management, 31(3), pp. 417-433.

GSMA Intelligence (2024) Mobile economy: Central Asia. https://www.gsmaintelligence.com

Jack, W. and Suri, T. (2011) 'Mobile money: the economics of M-PESA', NBER Working Paper, No. 16721.

KPMG Valuation and Consulting LLC (2024) B2C payments, POS financing and BNPL in Uzbekistan. https://assets.kpmg.com/content/dam/kpmg/uz/pdf/2024/Fintech%20UZ_Payments_POS%20Financing_BNPL-final.pdf

Kun.uz (2024) 'Uzbekistan sees reduced cash withdrawals amid growing digital payments', Kun.uz, 26 April. https://kun.uz/en/news/2024/04/26/uzbekistan-sees-reduced-cash-withdrawals-amid-growing-digital-payments

Payment Expert (2025) 'How Uzum capitalised on Uzbekistan's digital transformation', Payment Expert, 5 August. https://paymentexpert.com/2025/08/05/uzum-capitalised-uzbekistans-digital/

Statista (2024) Digital payments - Uzbekistan market forecast. https://www.statista.com/outlook/dmo/fintech/digital-payments/uzbekistan

TBC Bank Group (2022) 'Payme named the best digital payment service provider 2022 in Uzbekistan by the global economics', TBC Bank Press Release. https://tbcbankgroup.com/news-and-media/press-releases/awards/2022/payme-named-the-best-digital-payment-service-provider-2022-in-uzbekistan-by-the-global-economics/

Times of Central Asia (2025) 'Halyk Bank buys 49% stake in Uzbekistan's Click in landmark fintech deal', Times of Central Asia, 25 July. https://timesca.com/halyk-bank-buys-49-stake-in-uzbekistans-click-in-landmark-fintech-deal/

UzDaily (2025) 'Uzum summarizes results of 2024', UzDaily.uz, 1 February. https://www.uzdaily.uz/en/uzum-summarizes-results-of-2024/

Uzum (2025) Net income up 50% to $150 million driven by significant expansion across ecosystem. https://uzum.com/en/press-center/news-and-press-releases/uzum-announces-financial-results-for-2024/

World Bank (2025) The global findex database 2025: connectivity and financial inclusion in the digital economy - Uzbekistan. https://microdata.worldbank.org/index.php/catalog/7996