JSC Aloqabank is 2018 ‘Breakthrough of the Year’ winner selected by UnionPay International!

JSC Aloqabank is 2018 ‘Breakthrough of the Year’ winner selected by UnionPay International!

JSC Aloqabank is 2018 ‘Breakthrough of the Year’ winner selected by UnionPay International.

Aloqabank has been awarded as a 2018 ‘Breakthrough of the Year’ winner by UnionPay International payment system.

The awarding ceremony took place at the bank head office in January 2019.  Mr Zhang Chendong, Regional Representative of UnionPay International in Central Asia, Nasiba Nasretdinova, Deputy Chairman of the Executive Board of Aloqabank, and Farrukh Nigmatov, Deputy General Director of CRPC JV LLC took part in the ceremony.

Last October Aloqabank started issuing contactless co-badged cards in Uzbekistan. This unique project implemented by Aloqabank in collaboration with UnionPay International and UzCard is of national significance. The key advantage of co-badged cards is that they can be accepted not only in Uzbekistan but also in 170 countries and regions where UnionPay has its own infrastructure. In Uzbekistan co-badged cards are accepted as regular UZS bank cards, whilst abroad they can be used for payments and cash advance in foreign currency due to online foreign exchange.

In the meantime, Aloqabank has issued about 30 000 contactless co-badged cards successfully used in 24 countries (Australia, USA, Sweden, Germany, Austria, Spain, Poland, Hungary, Czech, Turkey, UAE, Saudi Arabia, Singapore, Malaysia, Thailand, Korea, China, Hong Kong, Russia, Kazakhstan, Azerbaijan, Kyrgyzstan and others).

Aloqabank co-badged card holders are also offered AloqaMobile banking application enabling them to transfer money online by using their co-badged cards. They can also deposit their money on special time deposit called “New Year Gift” offering quite beneficial terms and conditions.

Aloqabank is planning to enhance the co-badged card product mix by introducing new banking services within this year: e-commerce, off-shore money transfers, etc.

Moreover, Aloqabank is a co-badged card transaction settlement bank for all co-badged card issuers in Uzbekistan.

 

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