TASHKENT, Uzbekistan, Feb. 1, 2024 /PRNewswire/ — Uzum Market ranked as the most popular local app in Uzbekistan in 2023, with over 13.5 million cumulative downloads registered over the last year. The national e-commerce champion has become a successful competitor to messenger and social media apps in Uzbekistan, the fastest-growing e-commerce market in Central Asia.
According to Uzum’s internal data and confirmed by statistics from mobile analytics services and app stores, the Uzum Market app was the most popular locally-based mobile app and the most popular e-commerce app in the country in 2023. The number of cumulative downloads is now broadly comparable with those recorded by the two app market leaders, Telegram and Instagram.
The app’s popularity reflects the rapid growth in demand for online shopping in Uzbekistan. In August 2023, the global professional services network KPMG estimated that the e-commerce market in Uzbekistan expanded more than fivefold over the past five years and was set to grow sevenfold to USD 2.2 billion between 2022 and 2027. This trend has been supported by government initiatives in the IT and digital spheres, the steady increase in the number of internet users, and the emergence of major national players like Uzum Market – the only marketplace in the country boasting its own fintech solutions and logistics infrastructure.
Vyacheslav Karpov, CEO of Research Group Central Asia (RGCA), commented:
“Over the last year, Uzum Market exhibited strong growth in terms of key user engagement metrics, backed by a steady increase in the adoption of online shopping across the country. Our research found that eight out of 10 residents in the country are now familiar with the Uzum Market brand, while half of respondents have already placed at least one order via Uzum’s e-commerce platform.”
Djasur Djumaev, co-founder and CEO of Uzum, noted:
“In only one year, our team has succeeded in building an ecosystem of fintech and e-commerce services with more than 10 million monthly active users. The Uzum Market app serves as the key entry point into the Uzum ecosystem, which is transforming into a superapp. After placing an order, Market customers can apply for installment payment services provided by Uzum Nasiya with just one click – currently, almost half of the orders processed by the marketplace are paid via Uzum’s own installment payment service. Meanwhile, residents of Tashkent, Andijan and Fergana already have access to our online food delivery service, Uzum Tezkor. We aim to provide a wholly new customer experience by offering best-in-class digital services tailored to the needs of local consumers, all in one single place.”
Nikolay Seleznev, Chief Strategy and Business Development Officer at Uzum, said:
“The mobile app market in Uzbekistan exhibits a strong growth profile in line with the overall digitalization of the country. According to a study by Sensor Tower, the number of app downloads in Uzbekistan is expected to double between 2022 and 2027 and reach 1.8 billion annually, making Uzbekistan a leading app market in Central Asia. Given its scale and unmatched logistics infrastructure, Uzum Market has become a household name for e-commerce in the country, driving the digital transformation of the retail and banking industry. We are implementing convenient payment methods through financial services embedded in the Uzum Market app, offering new services that are changing consumer habits, and working to transform banking and fintech in Uzbekistan.”
Research Group Central Asia (RGCA) was established in early 2022 as an agency providing a full range of consumer research services. RGCA primarily consists of experts with extensive experience in conducting research projects. The company conducts a full spectrum of quantitative and qualitative research and is an officially accredited agency of the international operator IPSOS.
Uzum is a digital ecosystem and the largest digital platform in Uzbekistan, providing services spanning e-commerce, express delivery, banking and fintech, and business development. The ecosystem includes Uzum Market, an online marketplace with a wide range of products and one-day delivery across the country; Uzum Tezkor, an express delivery service from restaurants and stores; Uzum Bank, a digital bank; Kapitalbank, the country’s largest private bank; Uzum Nasiya, an installment payment service; and Uzum Business, an app for business customers. More than 10 million people in Uzbekistan, or nearly one-third of the country’s population, use Uzum services every month. Learn more at uzum.com.
For additional information please contact: [email protected]
Shanghai’s Lujiazui adds 5 global asset management institutions
SHANGHAI, March 5, 2024 /PRNewswire/ — Five global asset management institutions, including Aspect Capital and Schroders Capital, have signed agreements to settle in Shanghai’s Lujiazui Financial City, said local authorities.
According to Xiao Jian, head of Lujiazui administration bureau under the China (Shanghai) Pilot Free Trade Zone, Lujiazui Financial City has so far attracted more than 8,000 financial institutions.
Lujiazui has become an important cluster for global asset management institutions in China. It now boasts about 80 percent of foreign-funded asset management institutions, 40 percent of foreign-funded corporate banks, nearly one-third of public fund management companies, and nearly one quarter of insurance asset management institutions of the total in the country, Xiao said.
More than 80 world-renowned financial institutions from 13 countries have established over 120 foreign asset management institutions in Lujiazui.
“Lujiazui is an important gathering place and business expansion place for global asset management institutions in China. We are very honored to have the opportunity to join the Global Asset Management Partner Program. We also hope that through this signing, we can contribute to building Lujiazui into the core area of a global asset management center and accelerating Shanghai’s entry into the forefront of global asset management center cities,” Li You, Chief Compliance Officer of Aspect Capital (China) Limited.
“Shanghai has made a great stride in pushing for financial openness and attracting more global financial institutions and investors. The next step could be to take advantage the special status of Shanghai Free Trade Zone and Lingang special area to develop an off-shore financial system, adopting the most advanced financial business models and regulatory regimes,” said Yan Hong, professor of finance of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University.
LAMPRO International Distributor Summit: A Feast of Gathering and Future Prospect
-Focus On Pro, Pro For Mate–
HUIZHOU, China, March 5, 2024 /PRNewswire/ — On March 2-3, right on the 20th anniversary of the establishment of LAMPRO, the International Distributor Summit was successfully concluded in Huizhou. With the theme of “Focus On Pro, Pro For Mate”, the summit attracted more than 200 partners from all over the world, sharing the industry trend and advanced leading technology. During the summit, LAMPRO held an appreciation award ceremony and signing ceremony as well for partners to co-build a partnership system and create a brighter future together.
At the summit, Sichuan opera performances, band shows, and other entertainment sessions created a warm and comfortable homey vibe, so that every guest fully enjoyed the process. One of our partners even took the initiative to sing on stage.
To share business opportunities with partners and demonstrate the vision of prosperous development, LAMPRO has elaborately planned the “Tree of Dreams” launching ceremony and the 20th-anniversary sand painting video. In the beginning, Chairman Tiger Lin thanked all partners for choosing Unilumin and LAMPRO, and he emphasized, “It is vital to choose the right brand and bind with it, which will help you become an outstanding leader locally.” Afterwards, Mr. Lawrence Liu, General Manager of LAMPRO, shared the development strategy of LAMPRO partner system. The project director introduced and demonstrated LMini and other major product series in details, which greatly boosted the confidence of global partners.
Furthermore, to thank partners for their support and seek mutual development, LAMPRO also held an awarding session, a signing ceremony, and a visiting journey to the Daya Bay intelligent manufacturing base on March 3, which demonstrated the industry-leading intelligent manufacturing capabilities of LAMPRO and high quality of products. LAMPRO sincerely expects to establish a closer cooperative relationship with global partners. Partners said that they gained valuable friendship and cooperation opportunities at the summit, and highly recognized the manufacturing strength and product capability of LAMPRO.
Meanwhile, elaborately arranged lucky draws pushed the atmosphere to a culmination, in which prizes included electronic equipment of well-known brands. At the end of the dinner party, LAMPRO prepared unique souvenirs, including the 20th-anniversary mascot of LAMPRO, hoping to leave an unforgettable impression on every guest.
Looking ahead, we expect to share greater joys of success with more partners in subsequent distributor summits, create a bright future and display a better world together.
Aptoide launches campaign for a truly open digital market with new DMA website
LISBON, Portugal, March 5, 2024 /PRNewswire/ — Aptoide, the pioneer in global alternative Android app distribution, has launched a new campaign website, Leveling the game, including an Open Letter from the Aptoide founders, to demand full compliance from gatekeepers with the EU’s Digital Markets Act (DMA) and to urge regulators to take further action against anti-competitive practices by digital gatekeepers. Since 2011, Aptoide has been a vocal advocate for fair competition in the mobile app market, consistently challenging the market dominance of tech giants like Google.
With the March 2024 deadline for complete DMA compliance from gatekeepers set for this week, Aptoide sees this as a critical juncture for achieving true fairness in digital markets. However, the company also points out that significant obstacles remain, particularly with Apple’s recent DMA-related proposals, which include the introduction of a Core Technology Fee (CTF) and restrictive terms that limit developers’ access to alternative platforms.
“Aptoide has always advocated for a digital marketplace where innovation thrives and fairness reigns”, said Paulo Trezentos, Aptoide’s CEO and co-founder. “The DMA is a landmark step in that direction, but it’s clear that some tech gatekeepers are reluctant to let go of their stranglehold on the mobile industry. We must continue to push for reforms that will truly level the playing field”.
Aptoide argues that Apple’s proposed changes mostly serve to preserve its market dominance rather than to foster genuine competition, maintaining control by imposing disproportionate fees on alternative app stores and discouraging users from exploring non-Apple ecosystems through complex installation processes and misleading warnings.
Álvaro Pinto, co-founder and COO of Aptoide, added, “We’re at a crucial moment where the actions of regulators will determine the future of digital markets. Apple’s half-hearted reforms under the DMA are simply not enough. We need to ensure that the spirit of the DMA is not lost in loopholes and half-measures”.
In response to these challenges, Aptoide calls on EU authorities to hold Apple accountable and to demand that they:
- Eliminate or significantly reduce the CTF to reflect actual costs.
- Offer developers the freedom to choose between distribution models without restrictions.
- Simplify the app installation process for a better user experience.
- Apply the CTF fairly across all market participants.
- Remove misleading warnings about alternative payment systems.
- Ensure the confidentiality of data from competing marketplaces.
Aptoide believes that real competition can only emerge if the EU takes decisive action to enforce open market principles, leading to a digital marketplace that values fairness and innovation. And that the fight for an open digital marketplace is far from over and requires a united front. That’s why the company urges developers, consumers and regulators to join in demanding more from both Apple and Google.
Aptoide invites all stakeholders to visit their new DMA advocacy landing page, Leveling the game, to learn more about the ongoing struggle for an open digital world and to join the movement against the outdated monopolistic tactics of dominant gatekeepers.
Read the Aptoide Founders’ Open Letter about the DMA and what we need for real digital freedom here:
Aptoide is a game-changing app distribution and payment processing platform, with over 430 million users, 10 billion downloads and 1 million apps. Available on multiple channels including Android, Web, TV and automotive, Aptoide offers developers a trusted, experienced partnership with a deep understanding of all ecosystems.
- Shanghai’s Lujiazui adds 5 global asset management institutions
- LAMPRO International Distributor Summit: A Feast of Gathering and Future Prospect
- Aptoide launches campaign for a truly open digital market with new DMA website
- Onwards and upwards: Sedus on course for sustained growth
- CBH Compagnie Bancaire Helvétique 2023 annual results
- Velo Is Enhancing Its Own Ecosystem Through Interoperability
- CGTN: China vows to develop new quality productive forces in modernization drive
- SK chemicals, Hyosung Advanced Materials, and Hankook Tire Commercialize South Korea’s First Chemically Recycled PET Tire
- GTN and Blue Ocean Technologies join forces to enable Investors with 24-hour seamless access to US stocks
- Huawei Released the Financial AI-based Contact Center Solution 2.0, Empowering the Global Financial Industry
- Secret Escapes Chooses Nium to Enhance Payment Experience for Hotels
- 1200 MHz radar bandwidth in-orbit technology demonstrator enhances ICEYE’s expansive SAR satellite constellation
- Williams Lea announces appointment of Michael Pecnik as Chief Product Officer
- CGTN: Serving the people: How the CPPCC promotes consultative democracy
- MODIFI Named one of Europe’s Fastest Growing Companies of 2024 by The Financial Times
Fintech PR7 days ago
nuam exchange and Vermiculus Financial Technology establish partnership to create technological core for Central Counterparty Clearing Houses in Chile, Colombia and Peru
Fintech PR7 days ago
Klarpay Launches Exclusive Entrepreneur Accounts
Fintech PR7 days ago
Quinnox selected as one of the top 2 global partners of Adenza’s Certified Implementation Partners program
Fintech PR7 days ago
Kingdom Debt Landscape Transforms: KSA Debt Collection Market Poised for 5.2% CAGR, Driven by Regulatory Reforms and Technology Adoption: Ken Research
Fintech PR4 days ago
Antarctica Advisors Acts as Exclusive Investment Banking Advisor to Central Seaway Company Inc. in the Sale to Captain Fresh
Fintech PR7 days ago
Klarna AI assistant handles two-thirds of customer service chats in its first month
Fintech PR7 days ago
Bitcoin Price Passes $56k As Traders Pour Over $1 Million into Green Bitcoin ICO
Fintech PR7 days ago
Former Anglo American CEO Mark Cutifani Joins Diamond Standard Advisory Board