Uzbekistan’s three largest digital payment companies — Payme, Paynet, and Click — have released their financial results for 2025. The figures show that all three companies continued to grow, but each followed a different path: while one led in revenue, another posted the fastest growth.
In 2025, the three companies generated a combined UZS 3.215 trillion in revenue, up from UZS 2.144 trillion in 2024. This represents an increase of UZS 1.07 trillion, or approximately 50% year-over-year. Their combined net profit reached UZS 1.16 trillion (around $92 million).
The market’s trillion-soum growth is more than just a financial milestone—it reflects Uzbekistan’s accelerating shift toward cashless payments.
Paynet remained the clear market leader with UZS 1.74 trillion in revenue. This is significantly higher than Payme’s UZS 770 billion and Click’s UZS 703 billion, nearly matching their combined revenue.
Paynet’s leadership is largely driven by its extensive network of payment terminals, utility payment services, and strong presence in government-related payments.
The fastest-growing company in 2025 was Payme, with 56% revenue growth, followed by Paynet (53%) and Click (36%).
Payme’s rapid expansion has been fueled by deeper integration with e-commerce platforms, delivery services, and products such as Payme Nasiya. Despite differences in revenue, all three companies reported remarkably similar profitability:
- Paynet: UZS 395 billion
- Payme: UZS 390 billion
- Click: UZS 376 billion
The small gap between their profits highlights just how competitive Uzbekistan’s fintech market has become.
Paynet also led in total assets with UZS 1.74 trillion, followed by Payme (UZS 1.02 trillion) and Click (UZS 637 billion). Behind these numbers are three distinct business strategies.
Paynet continues to leverage its nationwide payment infrastructure and partnerships with the public sector to maintain leadership in both revenue and assets.
Payme, meanwhile, is expanding its digital ecosystem and achieving the highest growth rate through stronger integration with online services.
Click continues to grow steadily while maintaining profitability that is nearly on par with its larger competitors.
The fact that all three companies generated almost identical net profits suggests that Uzbekistan’s digital payments market still has no single dominant player. Instead, each company has built strong positions in different segments, keeping competition intense. Earlier interim reports covering the first nine months of 2025 showed net profits of:
- Paynet: UZS 330.5 billion
- Payme: UZS 287.3 billion
- Click: UZS 235.7 billion
By year-end, those figures had risen to UZS 395 billion, UZS 390 billion, and UZS 376 billion, respectively, indicating particularly strong fourth-quarter growth—especially for Payme and Click. This was likely supported by increased consumer spending during the holiday season and higher volumes of online shopping.
Uzbekistan’s cashless payments market has been expanding by roughly 50–60% annually, driven by the wider adoption of online utility payments, restrictions on cash payments in public transport, and the continued growth of e-commerce. The final results for 2025 once again confirm that this momentum is continuing.
Source: Official financial statements of Payme, Paynet, and Click.
