In the first three quarters, the payment volume in the fintech service Payme reached 8.9 billion lari ($3.3 billion). This is reported in the financial report of TBC Bank Group.
Compared to the same period in 2023, the transaction amount has increased by 29%. It is now approaching the total volume for the entire previous year.
As before, the majority of payments through the app are made up of p2p transfers. 73% of transactions were conducted between individual bank cards.
Service payments accounted for another 21%, while 6% were for utility bills and other needs. The number of active sellers on the platform has exceeded 6,900, increasing by half since the beginning of the year.
Since May 2023, Payme has been fully owned by TBC Bank Group. The company did not separately publish data on the service's revenue and profit, however, the group's profit in Uzbekistan over the nine months amounted to approximately 74 million lari ($27 million).
In 2023, the service generated around 71 million lari ($27 million at the time) in revenue. The app's profit was 45 million lari ($17.1 million).
Earlier, Spot reported that former Payme CEO David Melikidze became the head of Uzcard.