Upay payment service will become part of the Humans fintech ecosystem
Tashkent, Uzbekistan (UzDaily.com) -- Humans Company (Humans Companies JSC) had acquired a 100% stake in the authorized capital of Maroqand LLC (UPay trademark) and became its sole founder. The terms of the deal were not disclosed.
The UPay payment service becomes part of the Humans ecosystem and will continue to work under its own brand, the founders will remain in the company and develop it together with the Humans team.
UPay is a payment service in Uzbekistan that allows to control personal finances, pay for public services, mobile communications, Internet, games, transfer money from card to card and replenish electronic wallets.
“The deal with UPay is a logical step in the development of our business in Uzbekistan. We are building a digital ecosystem, and UPay is one of the most developed fintech products on the local market. The service stimulates the growth of the fintech industry in the region, and with it the boom of e-commerce,” comments Vladimir Dobrynin, CEO and founder of Humans Group. —
At Humans, we considered creating our own payment provider. But UPay has a number of advantages - it's technological expertise and a strong team. Cooperation with UPay will help strengthen the Humans ecosystem and achieve the main goal faster - to provide its users with a fast, convenient and secure service for everyday life. And not only in big cities, but also in remote regions of the country. Such affordable and democratic products will eliminate the digital divide of the regions and accelerate the development of the digital economy of Uzbekistan.”
“We are happy to join an international company and create new format payment services together,” commented Bekhzod Botirov and Anvar Babakulov, co-founders of the UPay project. — Humans has extensive experience in building business processes, marketing and developing digital products in foreign markets. Cooperation will allow UPay not only to reach new audience segments, but also to exchange experience and expertise. And also to grow more dynamically, expand the range of services and scale the business. Together we will be able to create a reliable infrastructure that will allow making payments, including in cash, as quickly and efficiently as possible.”
HUMANS.uz combines a fintech service, cellular services and an online payment showcase. Group offices are located in the USA, Uzbekistan, Belarus, Poland, Singapore and Germany. As of May 2022, the number of active users of Humans services amounted to 2 million people.