At the PLUS Forum Digital Uzbekistan, Octobank presented key fintech trends and the development of payment technologies
Octobank presented its vision of key fintech trends and the development of payment technologies in the Central Asian region.
Vladimir Vasiliev, Managing Director of Octobank, spoke about the current state of the cross-border transfers market and internet acquiring in Uzbekistan during the International PLUS Forum Digital Uzbekistan 2025.
“According to the results of 2024, the volume of remittances to the country through traditional channels amounted to USD 8.16 billion, which is 14% more than the previous year. At the same time, the P2P transfers segment grew by more than 50%.
The e-commerce market in Uzbekistan is also developing dynamically, showing steady growth in all directions,”
— emphasized Vladimir Vasiliev, Managing Director for Cross-Border Transfers and E-Commerce at Octobank.
He also noted that the bank’s team is actively developing a service enabling payments via Alipay and WeChat Pay.
Market Overview:
By 2028, the volume of the global e-commerce market will exceed USD 5.06 trillion.
The global market for cross-border transfers is also growing rapidly.
Popular trends in the industry include: service localization, QR solutions, integration of e-commerce and fintech, and strengthening regulatory oversight.
In 2024, the volume of remittances to Uzbekistan through traditional channels increased compared to 2023 — reaching USD 8.16 billion. The growth rate of P2P transfers exceeded 50%.
At the exhibition area of the forum, the Octobank booth attracted a large number of visitors, who were introduced to the bank’s advanced internet acquiring solutions.
Bank specialists held a series of consultations and discussed promising digital solutions with current and potential partners.
The 5th International PLUS Forum Digital Uzbekistan was held on May 28–29 in Tashkent.
As the leading communication platform of Central Asia, the forum annually brings together dozens of foreign and national representatives of banks, fintech companies, e-commerce services, and regulators to discuss current trends, solutions, and the prospects of digital financial technologies.
