Next month, a new payment system “Octo” will be introduced in Uzbekistan. It will allow to accept online payments made on the website or by a mobile application in real time using international plastic cards and electronic money.

The new system will accept online payments via international payment systems of Visa, Master Card, Union Pay, JCB, “MIR”, as well as “Yandex. Money” and Qiwi. Uzcard will also be launched in a month’s time. 
"This year we are just starting up. We have already signed several contracts with local companies. The system is focused on trade and service enterprises of Uzbekistan. It aims to help them sell their goods outside the country. With the new project, the number of payment systems will become two in Uzbekistan and we plan to increase them up to seven,” Kun.uz correspondent reported referring to Askar Akhmedov, the deputy-general director of “Octo”.

As he states, anyone can use well-known social networks to sell a product or service. Only a photo of the corresponding product and a link to the payment system should be posted on the page. In this case, the seller must be registered on the website of the payment system. So that the retailer will have a personal account through which he will be able to sell his products.

"We are working with Ravnaq-bank, so an account should be opened in this bank to avail the functions of the system. With the help of our program one can sell not only certain goods, but also services. Now the selection of logistics is under process which will execute shipments. At the same time, the delivery charges will be included in the price of the goods,” Mr. Akhmedov added.

Money will be blocked unless the buyer receives his goods. When the customer gets the goods, the money will be released, then only the seller will receive it. This ensures complete protection of consumer rights.

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