China's major technology giant is entering Uzbekistan's digital payment system

A significant negotiation took place at the Central Bank with a delegation from Tencent Cloud International, a subsidiary of China's prestigious technology company Tencent Holdings Ltd. This was reported by the press service of the Central Bank of Uzbekistan.

During the meeting, the prospects for bilateral cooperation in expanding digital technologies and creating and improving cloud infrastructures in Uzbekistan were discussed.

The parties thoroughly examined the issues of integrating Tencent's WeChat Pay digital payment system with local payment systems operating in Uzbekistan during the negotiations. This included the possibilities of making digital payments via QR codes and agreements to further expand mutual cooperation between the two countries in this area.

The Central Bank emphasized that at the end of the meeting, bilateral initiatives in payment systems and digital finance were supported, and specific tasks to be implemented in the future were outlined.

As a brief overview, Tencent Holdings Ltd is one of the largest private investment holdings in China, established in 1998. Today, this company holds leading positions not only in China but also globally in the investment and venture sectors. Tencent's subsidiaries are implementing modern developments in internet services, artificial intelligence, digital payment systems, and electronic entertainment.