Tashkent, Uzbekistan (UzDaily.com) -- MayaSoft, a startup from Uzbekistan, one of the winners of the Visa Everywhere Initiative competition, has begun developing the first contactless payment solution in Uzbekistan based on Visa Tap to Phone technology.

Visa Tap to Phone technology allows to turn smartphone into a POS terminal without additional equipment, all you need to do is download and install the application. This means that small merchants and private entrepreneurs can accept contactless payments using modern mobile devices, and customers can make payments in seconds simply by touching their contactless card, phone or watch to the merchant's smartphone with the Visa Tap to Phone solution.

Visa first introduced the technology in 2019, launching test projects with a number of major banks in the CIS and Southeast Europe region. The first commercial project based on Visa Tap to Phone technology was presented in Kazakhstan in June 2020.

The new Marta solution based on Visa Tap to Phone will expand the infrastructure for accepting payments in Uzbekistan, which, in turn, will accelerate the introduction of digital payments and strengthen consumer confidence in them.

Aliya Chynybaeva, General Manager of Visa in Central Asia, said:

“Today consumers are striving to be able to pay without contact wherever they shop. Nevertheless, there are still situations when card payments are not possible: in the market, at a food stand on the street, in a small family shop near the house. Millions of small and micro businesses around the world are forced to settle for traditional cash payments. Therefore, Visa makes it easier for both merchants and consumers to access the cashless payment system. Visa Tap to Phone is specifically designed to help merchants expand their contactless payment experience and consumers pay quickly and securely.

Nodir Badriddinov, inspirerand founder of MayaSoft LLC, said:

“MayaSoft values the partnership with Visa and Orient Finance Bank and is ready to support the development trends of contactless payments based on Visa Tap to Phone technology. We are pleased to be the first and together with our partners Orient Finance Bank and Visa to present in Uzbekistan a new, convenient and secure way of accepting payments using a smartphone. We hope that our innovative product under the Marta brand will take its rightful place in the payment acceptance infrastructure and serve as an incentive for the development of micro, small and medium-sized businesses in the country.”

“Throughout its existence, Orient Finance Bank has striven to provide customers with the most convenient, innovative and safe services. The presented technology will expand the possibilities of acquiring for the bank's customers, while reducing the cost of equipment and using smartphones that are always at hand to receive payments. This technology is especially useful for small street vendors, courier services and other businesses where it is difficult to use a traditional POS terminal. We expect that this service will become an additional incentive for the development of contactless payments in our country and will allow entrepreneurs to expand their capabilities for accepting card non-cash payments,” said Tokhir Djunaidullaev, Chairman of the Board of Orient Finance Bank.

After certification, the solution will be available to all clients of Orient Finance Bank.