Mastercard, a global technology company in the payments industry, announced the official opening of its first representative office in Uzbekistan during the EBRD Annual Conference that took place in Samarqand, on May 16, 2023.

“By being closer to the country we will better understand the needs on the ground, and we will work harder to deploy state of the art digital solutions to tackle them. I am confident that we are now ready to be more active and productive in the coming years to obtain shared objectives of advancing digital economy to the benefit of all,” stated Dimi Dosis, Mastercard EEMEA President.

Within the framework of Conference Mastercard Center for Inclusive Growth has signed a Memorandum of Understanding with EBRD, a valuable global partner to explore future collaboration in Central Asia to digitally empower small business owners, especially women. This new MoU aims to explore future collaboration in Central Asia to digitally empower micro and small enterprises (MSEs) especially women throughout Uzbekistan and Kazakhstan.

Last year Mastercard signed the Digital Country Partnership (DCP) for 3 years with Central Bank of Uzbekistan and another Memorandum of Understanding with Ministry of Digital Technologies in such key areas of digitization as SMEs, fintech, cyber security, tourism, smart city, financial literacy, as well as financial inclusion.

In line with DCP, Mastercard made an investment through Mastercard Advisors and executed payment ecosystem design and development project with CBU in 2023 to further accelerate digital payments in Uzbekistan. Based on the outcomes of this ecosystem design and development project, the set of recommendations for each of eight pillars covered by DCP are prioritized in terms of impact and level of difficulty to implement.

“Mastercard is committed to driving financial inclusion in Uzbekistan and Central Asia through innovative digital payment solutions. Our focus is on expanding access to digital payment options and enabling safe and secure transactions for all consumers, regardless of their location or financial status. We see tremendous potential in the region’s young, tech-savvy population, and are investing in programs and partnerships that support entrepreneurship and innovation,” stated Dimi Dosis, Mastercard EEMEA President.