Turkey's Turan to enter Uzbek payment services market

By Muzaffar Ismailov in Tashkent November 20, 2023

Turkish fintech startup Turan Teknoloji Anonim Sirketi will enter the Uzbek market in November, Trend.az has reported.

United Payment CEO Edgar Abdullayev told the media outlet about Turan's plans to launch money transfers from Turkey to Central Asia.

"Turan will provide new opportunities for customers who want to send funds to Central Asian countries. This step reflects the company's desire to expand its global network and meet the needs of customers in convenient and secure money transactions. We are proud to be able to offer our customers the opportunity to send money to Central Asian countries. Our goal is to ensure simplicity and convenience in every transaction, making the transfer process as simple as possible for our customers," he said.

In June, Abdullayev outlined plans to open Turan representative offices in Kazakhstan, Kyrgyzstan and Uzbekistan. According to him, the move would be aimed at strengthening ties between the Turkic-speaking countries and simplifying money transfers between them.

Turan recently started working in Azerbaijan, where the amount of monthly transfers has reached $330,000. In 2024, the payment service will target increasing this volume to $1.3mn.

Related Articles

Fourth Coca-Cola bottling plant in Uzbekistan inaugurated, plans for fifth announced

The Coca-Cola Company on May 17 inaugurated its fourth beverage production plant in Uzbekistan. The facility, with three lines for the production of 280mn litres of finished products annually, was ... more

Turkey's YEO to launch solar-plus-storage project in Zambia in partnership with GEI Power

Zambian sustainable energy company GEI Power is partnering with Turkey’s YEO to develop a 60 MW solar plant with a 20 MWh battery energy storage system (BESS) in the Choma district of the ... more

Turkish Deniz Bank stops opening Russian accounts

One of the largest Turkish banks DenizBank has significantly tightened the conditions for opening accounts for Russian nationals since the beginning of 2024 and has practically stopped approving such ... more

Dismiss