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• ZOOD Card to enable greater flexibility with instant installment plans for in-store and online shopping 

• The ZOOD Card offering is unique in Central Asia, offering consumers the ability to shop in up to 12 installments at local and international online stores

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Tashkent, Uzbekistan – 25th September 2024: Building on the existing multimarket partnership to accelerate flexible payments adoption in the region, Mastercard and ZOOD, one of the leading digital lending platforms for e-commerce in the Middle East and Central Asia, has introduced a virtual BNPL card – ZOOD Card – in Uzbekistan.

Being the first of its kind in the market, the ZOOD Card will enable consumers to convert their purchases into convenient installment plans for in-store, and local and global online shopping outlets.   

According to KPMG, by the end of 2027, the market share of POS financing and BNPL in Uzbekistan's e-commerce sector is projected to reach 22% in the higher-end segment. Offering flexible financing options, the virtual installment card will provide consumers with the flexibility to make purchases of up to 20 million Uzbek SOMs, by splitting their payments into 3, 6 or 12 installments Moreover, the card is completely free to obtain.
 

"Consumers today demand more flexibility and choice while transacting securely. By combining ZOOD’s innovative approach with Mastercard’s global network and technology, we are not only expanding access to convenient financing options but also driving digital inclusion across the region”, said Amnah Ajmal, Executive Vice President, Market Development, EEMEA, Mastercard.

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Powered by Mastercard, ZOOD Card will bring the company’s current BNPL offering to a virtual installment card, with Ipak Yuli Bank as the BIN Sponsor. This partnership will meet the growing demand for flexible payment options in the region and is set to drive financial inclusion by providing underbanked consumers with convenient payment solutions.
The virtual card will be initially made available to ZOOD’s existing customers following a wider roll-out in October.
 

“ZOOD Card is the first-of-its-kind virtual BNPL card in Uzbekistan that aims to disrupt the BNPL space and empower consumers to manage their cashflows with ease and comfort. Through our partnership with Mastercard, our customers will be able to shop in up 12 installments in real-time at major local and global online stores such as Amazon, eBay or Alibaba and any offline stores in Uzbekistan, anytime and anywhere, without being restricted exclusively to the ZOOD network,” said Michael Khoi, Group CEO, ZOOD.
 

About Mastercard (NYSE: MA)  www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
 

About ZOOD
ZOOD is a digital lending platform that drives financial inclusion by providing innovative and accessible financial solutions to over 300 million individuals and SMEs in Uzbekistan, Pakistan and Lebanon. Headquartered in Switzerland, ZOOD has ten offices serving over 10 million users across its fast-growing FinTech emerging markets. The company provides a holistic ecosystem encompassing FinTech (ZOOD Pay), E-commerce (ZOOD Mall), and E-logistics services (ZOOD Ship), with lending at the core of its operations.