Tashkent, Uzbekistan (UzDaily.com) -- Mastercard opens its official representative office in Uzbekistan. This was announced at the EBRD’s annual conference, which opened on 16 May 2023 in Samarkand, highlighting the importance of the global partnership with Uzbekistan.

Mastercard, the world’s largest payment processing corporation, continues to expand its presence in different regions and plans to strengthen relationships with local partners and industry stakeholders.

“The opening of an official representative office will allow us to better understand local needs, and we will work even harder to offer the most advanced digital technologies. I am confident that we will now become even more active and productive for the benefit of all in order to achieve the overall goals of developing the digital economy in the coming years,” said Mastercard EEMEA President Dimi Dosis.

As part of the conference, the Center for Inclusive Development Mastercard signed a memorandum of understanding with the European Bank for Reconstruction and Development, an important global partner, to expand further cooperation in Central Asia and increase digital opportunities for small business owners, especially women.

This memorandum of understanding aims to explore future cooperation in Central Asia to expand digital opportunities for micro and small enterprises (MSEs) and women’s entrepreneurship in Uzbekistan and Kazakhstan.

Last year, a three-year digital partnership agreement was signed between Mastercard and the Central Bank of the Republic of Uzbekistan and a Memorandum of Understanding with the Ministry of Digital Technologies in such key areas as digitalization of small and medium enterprises, fintech, cybersecurity, tourism, smart city, financial literacy; and financial inclusion.

This year, in accordance with a digital partnership agreement, Mastercard Advisors, together with the Central Bank of Uzbekistan, successfully completed an 8-component project to develop a payment ecosystem designed to make digital payments in Uzbekistan faster. A set of recommendations identifies development priorities for each of the eight components covered by the Agreement.

“Mastercard is committed to promoting financial inclusion in Uzbekistan and Central Asia through innovative digital payment solutions. Our focus is on increasing access to digital payment options and ensuring safe and secure transactions for all consumers, regardless of location or financial situation. We see great potential in the region’s young, tech-savvy population and are investing in collaborations and programs that support entrepreneurship and innovation,” said Mastercard EEMEA President Dimi Dosis.