Paynet Finalises $65 Mn Acquisition of Humo Payment System

Uzbekistan has finalised the privatisation of the Humo payment system, part of the National Interbank Processing Center, for $65 mn. This announcement was reported by Uzbekistan’s State Assets Management Agency (UzSAMA). The sale follows an open process, where six applicants were invited to submit Binding Offers (BO).

Three offers were received, with Paynet submitting the highest bid of $65 mn. This bid aligns with the price range set by the consultant and exceeds the valuation by independent appraiser KPMG.

Paynet, one of Uzbekistan’s largest payment operators, has agreed to ensure the stability of the Humo payment system and protect the personal and banking data of its users.

The sale has been approved by the State Commission for Privatisation of State Assets. Paynet has been operating for 18 years, providing payment services to over 20 mn users and 1,500 service providers.