Paynet Company Acquires Humo Payment System for $65 Million
Uzbekistan
Paynet, one of Uzbekistan's largest payment operators, has acquired 100% of the state’s share in the charter capital of the Humo payment system for $65 million. This deal was conducted as part of the state privatization program.
According to the State Asset Management Agency, the open bidding process was organized with the participation of Deloitte. While six bidders were invited to participate, three binding offers were ultimately submitted. Paynet was declared the winner as it proposed the highest price.
Through this acquisition, Paynet has committed to "ensuring the stability of the Humo system," protecting "users' personal data," and developing payment infrastructure.
For reference, Paynet, established in 2005, currently serves over 20 million users annually.
It provides payment options for more than 1,500 products and services.
Previously state-owned, it was transferred to New Industrial Technologies in 2022.
The Humo system, established in 2018, is Uzbekistan’s national payment system in development.
Its charter capital amounts to 155.4 billion soums.
Currently, there are over 27 million Humo cards in circulation in the country, with more than 210,000 terminals and 6,400 ATMs available.
Through this acquisition, Paynet has committed to "ensuring the stability of the Humo system," protecting "users' personal data," and developing payment infrastructure.
For reference, Paynet, established in 2005, currently serves over 20 million users annually.
It provides payment options for more than 1,500 products and services.
Previously state-owned, it was transferred to New Industrial Technologies in 2022.
The Humo system, established in 2018, is Uzbekistan’s national payment system in development.
Its charter capital amounts to 155.4 billion soums.
Currently, there are over 27 million Humo cards in circulation in the country, with more than 210,000 terminals and 6,400 ATMs available.
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