7 Key Aspects When Choosing a Payment Partner in Uzbekistan

In today's world, electronic payments are becoming an integral part of any business, especially in the context of online commerce. This is also true for Uzbekistan. If now the e-commerce market is at the stage of formation, according to KPMG forecasts, by the end of 2027 this market may already account for 9-11% of all retail in the country and reach a volume of $2.2 billion. Given this great potential, the issue of accepting online payments is becoming increasingly important. However, choosing the right payment partner for business in Uzbekistan can be a difficult task. All well-known international payment systems such as Stripe and Paypal do not operate in Uzbekistan. In this regard, it is extremely important for international companies planning to enter the Uzbek market, as well as local businesses planning to launch online, to be vigilant in choosing a partner that will become a reliable guide in the world of payments and allow them to focus on business development.

Here are the key aspects to consider when selecting a payment partner to ensure a secure, convenient and efficient payment acceptance process:
1. Availability of a license from the Central Bank of the Republic of Uzbekistan:
https://cbu.uz/ru/payment-systems/documents-license-applicati/payment-organizations/https://cbu.uz/ru/payment-systems/documents-license-applicati/payment-organizations/.
2. Availability of payments from different types of cards:

Make sure that your payment partner supports the different types of bank cards that are used in Uzbekistan. A strong payment partner will be able to provide you with the ability to accept funds from both local Uzcard and Humo cards as well as international payment systems such as Visa and Mastercard. This will allow you to maximize your reach with one partner and one integration, saving you accounting and development resources in the long run.

3. Simplicity and flexibility of integration:

Payment partner integration should be simple and intuitive for your development team. Look for a partner that offers user-friendly APIs and up-to-date documentation to minimize implementation time and costs. Pay attention to the types of integration available - does it provide the ability to pay via its own payment page, API, convenient widgets and payment plugins for popular CMS. An important factor is how the payment organization is integrated to the processing centers. They can be integrated through the bank, or directly to Uzcard and Humo. Direct integration to processing centers allows payment organizations to be independent of potential problems in the bank's infrastructure, as well as to have direct access to all available payment methods, and to provide businesses with more flexible methods for implementing the payment process.

4. Card date security:

This is one of the most important aspects when choosing a payment partner. Make sure that your partner provides a high level of card data protection in accordance with international payment card security standards (PCI DSS). This will protect both you and your customers from possible financial risks and data breaches.

5. Reliability of infrastructure:

A partner must provide a reliable infrastructure to process payments without downtime or disruption. This is important to maintain customer confidence and keep your business running smoothly. Ask what infrastructure your partner uses to process your payments, whether the server capacity is in-house, whether there are redundant servers and network equipment that will allow uninterrupted continuation of work and no loss of data in case of failure of any piece of equipment.

6. Quality of support:

A reliable payment partner should provide quality support for both the integration process and day-to-day use. Pay attention to response to requests and resolution times to ensure that your business doesn't face prolonged downtime due to payment issues. Often, the speed of response to your requests before or during the integration process is an indication of the further level of support you can expect going forward.

7. Experience in the payment sphere:

It is extremely important that your payment partner has experience in this field, because to him you entrust the most important resource of your business - your income. Working with an experienced partner will free you from the risks of losing money, technical errors and interruptions.

Choosing the right payment partner is an important step for the success of your business in today's digital environment. By adhering to the above mentioned aspects and making a careful selection, you will be able to provide an efficient and secure payment system for your company in Uzbekistan.

If you are looking for a new payment partner for your business in Uzbekistan, ATMOS is ready to advise you and become your reliable partner. ATMOS has a license of payment organization, provides the ability to accept payments fromUzcard, Humo, Visa and Mastercardcards, hasPCI DSS certification, as well astechnical support available 24/7.