Mastercard's Initiatives Stimulate E-Commerce In Uzbekistan - CEO (Exclusive)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 23. Mastercard's initiatives to stimulate e-commerce are aimed at working with both businesses and the population in Uzbekistan, General Director of Mastercard in Uzbekistan Denis Filippov told Trend .

"One notable activity for entrepreneurs is the upcoming launch of Mastercard business cards. These cards offer a convenient solution for small and medium businesses to streamline and expedite internal processes. The range of uses for the cards is extensive, including payment for goods and services, state duties and visa fees, corporate cabs, business travel expenses, and more," he said.

Denis Filippov pointed out that Mastercard business cards are like jacks of all trades, allowing you to use them for both domestic and international transactions, making payments in both local and foreign currencies.

"This is especially convenient if the company works in foreign markets and regularly sends employees on foreign trips. With business cards, it is possible not to open a separate sum card and a separate currency card, as all accounting is done on one," Mastercard's general director said.

He also mentioned that Mastercard is working hand in glove with the population to enhance financial literacy. In recent years, fraudsters who shake people's faith in non-cash payments have been upping their game.

"Even the President of Uzbekistan Shavkat Mirziyoyev drew attention to the problem. In particular, he noted that from January through November last year, 5,500 cybercrimes were committed in the country, of which 70 percent were frauds and thefts related to bank cards. It is understandable that after losing a large sum of money, people lose confidence in their cards and try to make fewer online transactions. However, the better people understand financial issues, the less often they will become victims of fraudsters," Filippov said.

According to him, Mastercard really has its finger on the pulse when it comes to improving financial literacy. Thus, the company joins forces with Uzbek Uzum Media.

"Our experts help reporters create educational materials. Within the framework of the same partnership, we launched the 'Mastercard Mastercard Course', which consists of eight informative modules," he added.

To note, the number of MasterCard Worldwide payment cards issued in Uzbekistan reached 225,942 in 2023.

According to data from Uzbekistan's Open Data Portal, this figure represents an increase of 123,784 payment cards (121.1 percent), compared to the previous year (102,158 in 2022).

The total number of issued MasterCard payment cards amounted to 328,100 from January 2022 through December 2023.

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