Kaspi.kz to invest in Uzbek Humo Payment System
Kaspi.kz, a leading fintech company from Kazakhstan, has expressed its interest in participating in the privatization of the Humo payment system in Uzbekistan. The company plans to make significant investments in technology development in the country, according to CEO and co-founder Mikhail Lomtadze.
Kaspi.kz has officially submitted a letter of interest to Deloitte, the consulting firm managing the privatization process for Uzbekistan’s State Assets Management Agency. The letter outlines Kaspi.kz’s intention to acquire 100% of the state share in the National Interbank Processing Center, the operator of the Humo payment system.
Humo is a widely-used payment system in Uzbekistan, facilitating transactions both domestically and internationally. The system boasts 27 million HumoCards, 6,400 ATMs, and over 210,000 terminals.
Mikhail Lomtadze highlighted the rapid economic development in Uzbekistan and the government’s commitment to market-oriented reforms. He emphasized that these reforms have made Uzbekistan increasingly attractive to global investors, including prestigious firms like BlackRock, Fidelity, Capital International, and Ballie Gifford.
“We plan to enhance the existing Humo business model with our extensive experience in developing payment technologies and services, which are catalysts for the growth of cashless payments and economic development,” said Lomtadze. “We anticipate significant investments in technology and personnel in Uzbekistan, making Humo’s payment services more accessible and convenient for all users. These investments will drive further innovation within Humo, boosting its technological capabilities and setting a benchmark in the field of payment systems.”
Kaspi.kz’s participation in the privatization of Humo is expected to provide a significant boost to the payment system’s development and technological expansion.
About Kaspi.kz: Kaspi.kz is a leading fintech company in Kazakhstan, known for its innovative products and services in the payment and financial technology sectors. The company operates the Kaspi.kz Super App for consumers and the Kaspi Pay Super App for merchants, offering a range of services including payments, marketplace, and fintech solutions.
Source:https://forbes-kz.cdn.ampproject.org/c/s/forbes.kz/articles/kaspikz-nameren-uchastvovat-vprivatizatsii-platezhnoy-sistemy-humo-v-uzbekistane-663eec/amp