Banks, digital wallets and remittance businesses will now have an easier time sending money to Uzbekistan as Paysend, the digital payment network extends its cross-border payment facilities.
While previously Paysend supported Visa and Mastercard payments in the region, this new milestone will now enable it to make instant payouts directly to Uzbekistan’s local card schemes, Humo and Uzcard. This launch empowers fintechs to take full advantage of Paysend’s single API with existing coverage in 170+ countries.
Over two million Uzbeks live abroad and remittances hit $2.5billion in Q1 2024 alone—an 8.6 per cent year-over-year increase, signifying that the demand for fast, affordable transfers is higher than ever. Yet options remain limited in Uzbekistan, with SWIFT payments typically taking three to five days, and many recipients still relying on cash pick-ups—slower, less secure, and often more expensive.
One solution to this problem is provided by Paysend, which enables low-cost, instant payouts directly to local cards—available 24/7 with real-time FX rates and notifications.
Abdul Abdulkerimov, Paysend’s founder and executive chairman, added: “We are delighted to expand Paysend’s Enterprise network to include payouts to local Uzcard and Humo cards in Uzbekistan — one of Central Asia’s most rapidly growing markets. This expansion underscores our commitment to offering our customers the most extensive global reach and enhancing the efficiency of cross-border payments to build the world’s largest digital payment network.”
Enterprise clients
For enterprise clients, integration is frictionless through Paysend’s single Payout to Cards API. Businesses can now process instant and secure transfers to Uzbekistan, significantly reducing transaction times and costs, with no hidden fees and competitive FX rates.
Existing clients can access the new feature immediately without additional integrations. New partners can easily get started via the Enterprise sandbox, which is supported by a dedicated integration team. Setup only takes a few weeks – reducing time-to-market and technical complexity.
One of Paysend’s Enterprise clients, Gmoneytrans, shared positive feedback following the launch. As South Korea’s first licensed and largest remittance provider, Gmoneytrans enables real-time transfers to all Korean banks through its advanced API—and now supports instant payouts to Humo and Uzcard cardholders in Uzbekistan through its partnership with Paysend.
“With Paysend’s single API, businesses can access all card schemes and deliver real-time transfers with confidence,” said Jong Moo Kim, CEO and founder of Gmoneytrans. “We’re committed to expanding global access to fast, secure, and affordable remittances—especially for foreigners in South Korea.”
