WebMoney Transfer launches wallet in Uzbekistan

The global system WebMoney Transfer announced its market entry to Uzbekistan and introduced a WMY wallet in Uzbekistan Som.

WMY title units allow to pay for mobile communication, the Internet, utilities and online games. WMY will be accepted by global and national service providers. It is possible to pay WebMoney not only online - the system provides solutions for accepting cashless payments with a QR-code for owners of cafes, restaurants and shops.

Using WebMoney, entrepreneurs in Uzbekistan interested in exporting their goods will be able to accept payments in US Dollars, Euros and other currencies from their foreign customers.

Funds to WMY wallets can be deposited from UZCARD bank cards, via the OSON payment system and the PAYNET.UZ mobile application, as well as in cash at PAYNET cash points and ATMs. Withdrawal of funds from a wallet can be made to UZCARD cards and bank accounts. In addition, WMY can be exchanged to any other type of the system title units, which allow users to make payments to over 100,000 online shops that accept WebMoney worldwide.

The Guarantor status of the WebMoney system was granted to Brio Group Ltd, which is famous for the development of OSON payment system. Brio Group Ltd and Turkiston Bank signed an agreement for issuing WMY title units.

First Deputy Chairman of the Bank, Furkat Aliyev notes: `The Turkiston Bank started cooperation with a number of international e-commerce companies to promote the development of innovative projects and e-commerce in Uzbekistan. The arrival of WebMoney to Uzbekistan will become an important driving force for the growth of e-commerce in Uzbekistan and it will aid the building of citizens` trust towards making cashless payments in online stores. Sellers and buyers will benefit from dozens of services and solutions provided by the WebMoney system such as auto-payments, mass payments, escrow transactions and many other services. We started the development of this project in partnership with Brio Group Ltd in 2018. Brio Group Ltd and Turkiston Bank signed an Issuing Agreement on the emission of WMY title units`.