Development of the Instant Payment System in Uzbekistan (Zenodo)

Summary

• Based on July 2023–2026 data, the number of Instant Payment System transactions increased by more than 2.7 times, while their total value rose by more than 4 times.p.9
• In 2025 the number of operations increased by 22.6% and their value by 70.3%, raising the average operation size by 38.9% to 23.36 million soums.p.11
• In July 2026 payments rose by a further 23.6% and the amount by 51.7%, with an average operation of 28.67 million soums.p.11
• TBC Bank accounted for 14.08% of payments by number but only 1.45% by value, with an average operation of about 2.95 million soums.p.12
• Total payments increased by about 66.29 trillion soums between July 2025 and July 2026, of which Kapitalbank contributed about 27.64 trillion soums.p.12

Key insights

1. Transaction value is growing faster than transaction count, accompanied by a rising average transaction amount.p.9
2. The average operation grew by 22.7% against 2025 and by 45.6% relative to 2023.p.11
3. Kapitalbank's increase is equivalent to about 41.7% of the system's total growth.p.12
4. The Central Bank's volume grew by 12.62 trillion soums and Asia Alliance Bank's by 9.39 trillion soums.p.12
5. Uzpromstroybank's volume fell by approximately 9.47 trillion soums, so growth was not uniform across banks.p.12
6. Banks leading by number of operations are not always leaders by value, and concentration is higher by number than by value.p.13
7. The system is shifting from predominantly quantitative expansion toward use in the settlement operations of economic entities.p.9