Zhuhai – 16th September 2019 “This is a historic event,” said Head of the “Common Republican Processing Centre” LLC JV (CRPC ) Akhror Makhmudov in the meeting of Heads of the National Payment Systems as well as the National (Central) Banks of the CIS countries which took place in Samarkand.
The meeting was attended by representatives of the National Payment Systems and National Banks of the Russian Federation, the Republic of Belarus, the Republic of Armenia, the Republic of Abkhazia, the Kyrgyz Republic, the Republic of Tajikistan and the Republic of Uzbekistan. The meeting sees the start of a Cooperation Agreement between the MIR payment system and focuses on future goals and opportunities for Uzcard customers.
“This is a truly unprecedented event for Uzbekistan. From 13 to 15 June 2019 in Samarkand, the delegation of payment systems and central banks of the CIS met and signed a number of important agreements. Perhaps, the most important accomplishment, can be considered the signing of agreements on unimpeded cross-border payments between the Uzcard payment system and the Russian MIR payment system.
On June 13 2019, in real time, the first production transaction between the two payment systems was successfully completed and by the end of the year, card holders will be able to conduct operations, purchase goods and use services throughout the CIS, bypassing all sorts of outdated procedures.
The head of the CRPC noted that this decision will also increase the tourist attractiveness of Uzbekistan and promote business development.
According to statistical data by the State Committee of the Republic of Uzbekistan for 2018, more than 5 million tourists visited Uzbekistan from the CIS countries. The main share of tourists visiting Uzbekistan are citizens of the CIS. Accordingly, cooperation with NSPK (“MIR”) is not necessary only for Uzbekistan and Russia, but also beneficial for other CIS countries.
Moreover, in the near future, it’s planned to reach agreements with colleagues from far-abroad countries on the issues of Uzcard cards in countries such as the United Arab Emirates, Thailand, Indonesia, etc. There is also a plan to implement a project for the issue of Uzcard-Mir co-branding cards. Offering users of the two systems enhanced cards, a number of processes are being simplified for conversion into foreign currency, for transferring funds, and for carrying out transactions in the CIS countries.
Vladimir Komlev, General Director of NSPK (MIR), commented on the prospects for cooperation with the CIS countries:
“We will create an opportunity for cardholders everywhere to feel comfortable, at home, and not to feel any limits and restrictions while traveling around the CIS. This is an important understanding that we are part of a seamless payment space along with the mutual penetration of our cultures.”
It’s a great honor that XH Smart not only as a witness but also a participant of this historical moment as XH Smart is the exclusive card supplier in Uzbekistan for dual branding cards.
XH Smart is ranked No.6 among the top global smart card vendors by international market share and has shipped more than 3 billion smart cards. The company has successfully passed certification of Union Pay International, VISA, Mastercard, Uzcard and other smart card industry organizations.
XH Smart’s customer base includes international and Chinese banks, including Postal Savings Bank of China, Deniz Bank in Turkey, Commercial Bank of Kuwait, Uganda Post Bank, South African Post Bank, MCB Mauritius among others.
XH Smart always manages to provide innovative payment cards product which can enable banks to present their cardholder value-added service, for example, XH biometric card, the card holder can identify themselves just by fingerprint instead of PIN code, which is more secure and convenient for contactless payment scenario.
The company also provides cards for the young generations such as the highly sought after LED card. By adopting LED luminescent Intermediate material, the card body flashes during swiping, which presents a unique user experience comparing with ordinary card. In the June of 2019, XH Smart won the bid of Postal Savings Bank of China for 2,000,000 Tencent co-branded LED card project and has being providing card for whole country.
XH Smart provides not only high-quality banking card but also advance payment solution such as Instant Issuance System (IIS). Comparing with traditional card issuance process, XH Instant Issuance System (IIS) enables the banks to instantly issue personalized cards in the branch. Banks will no longer have customers who are frustrated and unable to spend on their cards waiting for card delivery. They are issued with a new or replacement card instantly and are thus able to start using the card immediately, which leads to a better customer experience and faster revenue generation for banks.
About XH Smart Tech (China) Co., Ltd
Founded in March 22, 2011, XH Smart is the reliable provider of digital security solution. The company’s vision is to be the global leader in digital security solution provider protecting business and consumer. XH Smart’s proven products and services are deployed in more than 70 countries covering Europe, Africa, Middle East, South America and Southeast Asia. Since its inception, the company has invested heavily in R&D and has registered numerous patents in the area of production automation and copyright. XH Smart has also received ISO9001, ISO14001, ISO18001, ISO27001, GSMA SAS, Visa, MasterCard and China UnionPay certification for production of schemed payment cards.
