TASHKENT, Uzbekistan, Sept. 18, 2024 – The Uzbekistan-based Humans ecosystem brings together all payment and transfer services under the Humans Pay brand and releases financial and operating results for the Humans Pay for H1 2024.
Following the acquisition of the Maroqand LLC’s payment service in 2022 (operating under the UPay trademark), all services have been fully integrated into the Humans ecosystem, providing seamless financial solutions to users across Uzbekistan. This has allowed the company to significantly increase its share in all segments of Uzbekistan’s fintech market.
In the first half of 2024 alone, Humans Pay achieved several impressive milestones:
- Customer Growth: The number of Humans Pay users increased by 45% compared to the same period in 2023.
- Revenue Growth: Humans Pay generated over $5 million in revenue in the first six months of 2024, which is 65% higher than in the first half of 2023.
- Transaction Volume: The number of transactions also showed consistent growth, amounting to 60 million transactions, which is 21% more than in the first half of 2023.
- Turnover: The Humans Pay turnover in the first half of 2024 increased by 85% compared to the same period in 2023, underscoring the growing demand for its services.
Commenting on this remarkable growth, Vlad Dobrynin, CEO and founder of Humans Group, said, “We are seeing how the convenient and accessible services of the Humans ecosystem are rapidly gaining market share. Our client base is growing, along with the service’s turnover and capitalisation, and all these indicators prove Humans’ significant role in popularising cashless payments and increasing financial literacy in the country. According to Western experts, the capitalization of the Humans Pay service alone amounts to 60 million dollars today. In turn, we see prospects for further active growth of the ecosystem associated with the dynamic development of Uzbekistan’s entire digital economy.”
Due to the high demand for the payment and transfer service, the company’s management made the decision to further develop all fintech services within the Humans ecosystem under the Humans Pay brand. This strategic move aims to solidify the brand’s position as the core driver of growth within the Humans ecosystem and continue its mission of empowering users with convenient and reliable financial solutions. As Uzbekistan’s digital economy rapidly evolves, Humans Pay remains at the forefront of transforming the country’s financial services sector, ensuring that cashless payments and financial inclusivity are accessible to all.
