Tashkent, Uzbekistan (UzDaily.com) -- Since February 2020, payment transactions of business entities have been carried out around the clock online through the Instant Payment System. 

This system allows to make interbank money transfers between legal entities and individual entrepreneurs, make payments to the budget and off-budget funds in real time (24/7) also on weekends and holidays. This is very important and convenient for smooth and timely money transfers.

Today, all banks of the republic are connected to the Instant Payment System, and all clients working through remote service systems have the opportunity to use the new mechanism. In October of this year, the volume of payments made through the Instant Payment System amounted to 18% of the total volume of interbank transfers. This indicates the growing interest of customers in this system.

As a result of the connection of all banks to the SMP in the third quarter of this year, legal entities and individual entrepreneurs carried out transactions worth 43.6 trillion soums, which is two times more than in the second quarter. 

At the same time, during 2020, more than 2.7 million transactions or payments in the amount of 64.3 trillion were carried out through this system. soums. Of these, 83% or transactions worth 53.4 trillion soums were carried out by clients of ten active commercial banks using the convenient capabilities of the system.