Humo and UZCard: two card schemes for an increasingly digitized nation
A country heading towards digitization requires sophisticated financial infrastructure to work, especially when the demand for alternative payment methods keeps rising per year. It’s common for citizens in Uzbekistan to make use of an electronic wallet or alternative payment methods for their shopping needs. From essential goods to payments for iGaming websites, the future is digital, and the country's government has been actively working to strengthen its e-commerce industry.
Uzbekistan has seen a rising number of card transactions made with HUMO and UZCard being the facilitators behind most domestic transactions. Whether it involves payments made to an offshore iGaming cashier or any other expense, these 2 brands have been crucial as the intermediary between customers and businesses.
In this article, we’ll be looking at the history of both companies and previous monopoly once held by one of these brands. The legality of Uzbekistan’s online casino operations and the habits of players there will also be discussed, especially with new legislation coming up in the next year.
How it started
Uzbek currency is commonly used in the digital space, especially in terms of buying physical goods like groceries and other essential items. According to Statista, estimated revenue might be able to reach 1.540 million US Dollars alongside an annual growth of 11.12%. Expected penetration within the Uzbekistan market sits at 19.2% this year with average revenue per user at USD 229. Although focused on the purchase of physical goods, there is a growing trend towards more contemporary purchases like entertainment services which may indicate an opening for Uzbekistan's online casino operations.
However, accepting payments for iGaming website transactions can be difficult due to the legality of Uzbekistan's online casino websites. One way that players get through to offshore online and mobile casinos is the use of electronic wallet apps connected to international payment services like PayPal or Skrill. Since these are trusted by players as a payment system for high-risk industries like gambling, most players in the country have to pay high fees which stifle the growth of the local online gaming industry.
Another way that players get to load up their balance in an iGaming cashier is by using domestic cards that are connected to international card brands. MasterCard, Visa, and UnionPay have accepted deals from the two local card networks to allow for cross-compatibility with virtual terminals abroad. Thanks to this, working through a connected payment system in Uzbekistan will not limit your ability to play online casino games.
The Monopoly of UZCard and how Humo appeared
Before 2018, the only participant in domestic card system was UZCard which managed to unite multiple banks and payment aggregators in the country through its operations. However, an incident in 2018 caused by a systems outage showed the negatives of their monopoly when numerous businesses were halted from making sales due to their POS Terminals not being able to connect. This event was what caused the Central Bank of the Republic of Uzbekistan to support the creation of a new domestic card system that banks could integrate with.
Humo, a newly launched card service, is built to assist both traditional brick-and-mortar businesses and digital e-commerce ventures. In 2022, an estimated 23 million cards were registered under the former while 7 million were under Humo. This year, the latter now boasts 27 million cards issued and over 210,000 POS terminals compatible with their products. A perfect companion for players making payments for iGaming website games and lots of Gaming cashier transactions.
Why you should use UZCard
Although no longer the only choice when using Uzbek currency, UZCard was founded in 2004 under the functions of the Common Republican Processing Centre. They offer a variety of services like P2P fund transfers, payment monitoring, money deposits, and a variety of cards with different network integrations. For example, brand offers credit cards that are compatible with either MasterCard or UnionPay terminals which all have SMS-Informing features and security features on par with international brands.
For businesses, brand offers various models of POS Terminals such as wireless modules depending on the needs of the business. OCR integration is also available wherein interested businesses send their application and then get approved to enter the card system. From there, a business only needs to choose the payment gateway after their terminals are properly connected to accept payments for iGaming website operations.
What about HUMO
Humo payment system is based on bank payment cards, all with the ability to process transactions both locally and internationally. All transactions, however, are managed and vetted by the Central Bank and its Clearing Center which ensures every transfer is done with security in mind. Created in 2018, it has been operating in the hopes of unifying the payment infrastructure of the country — a similar goal comparable to the previous brand that aims to make deals easier.
Users, whether individual or commercial, are charged 20,000 Uzbekistani Som (UZS) and are charged up to 0.5% for all transactions done within the card system. For any Uzbekistan online casino, this means that system charges will have to be factored into business expenses. A localized experience, however, might be the key to recouping whatever losses may be incurred through these transaction fees.
For online casinos that wants to enter the Uzbekistan market, payments for iGaming website accounts should be compatible with electronic wallet applications and domestic card systems. Since many players are currently using VPNs or mirror sites to play online casino games, it's best to have integrations with either MasterCard or Visa since most local cards are compatible with their networks.
In terms of security, both brands are compliant with the standards and regulations of the country’s Central Bank and are certified under the standards of PCI-DSS. This ensures that all transaction data is properly protected and encrypted, making any attempt at fraud difficult to accomplish.
Most importantly, legislation in the country has been changing to finally legalize playing online casino games locally as soon as 2025. An entrepreneur looking to capitalize on this should be prepared to contact either of the 2 card schemes for integration within their casino APIs and get a head start on the competition.
Conclusion
As far as we concerned, both card systems are viable options when choosing a payment system for high-risk transactions, especially with new legislation allowing the growth of Uzbekistan’s online casino operations. With that in mind, an iGaming cashier API that already accepts payments from either e-wallet apps, MasterCard, Visa, or UnionPay should be able to meet the demands of any domestic players. However, it should be noted that any fees related to the use of any connect payment system in Uzbekistan or any imposed limits are still at the behest of the issuing bank since both brands are domestic card systems and not payment gateways.
Understanding the state of any market is key to finding success, most especially in online commerce and entertainment like online casinos. One way of improving chances of success is optimizing the payment routing system which brings along a better experience for the end user. Monoup has the expertise in advising the right payment solution for accepting payments for iGaming website transactions. Consult with us through our official website or read up on other e-commerce topics on our Mono Talks page.
