Global payment technology company Mastercard announced the opening of its first official representative office in Uzbekistan during the annual conference of the European Bank for Reconstruction and Development on May 16 in Samarkand.

“The opening of an official representative office will allow us to better understand the needs on the ground, and we will work even harder to offer the most advanced digital technology solutions. I am confident that we will be even more active and productive in order to achieve our common goals for the development of the digital economy in the coming years,” said Dimitrios Dosis, President of Mastercard for Eastern Europe, the Middle East and Africa.

As part of the conference, the Center for Inclusive Development of Mastercard signed a memorandum of understanding with the EBRD to expand cooperation in Central Asia and increase digital opportunities for small business owners, especially women. This memorandum 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 Uzbekistan and a memorandum of understanding with the Ministry of Digital Technologies in key areas such as digitalization of small and medium enterprises, fintech, cybersecurity, tourism, smart city, financial literacy and financial affordability.

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.

“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 status. We see great potential in the region's young, tech-savvy population and are investing in collaborations and programs that support entrepreneurship and innovation,” noted Dimitrios Dosis.