CloudPayments announced the cessation of work in Uzbekistan as of March 18. The decision is due to “changing market conditions,” the company explained. In April 2022, CloudPayments filed a trademark application in Uzbekistan.
The online payment service CloudPayments will stop working in Uzbekistan on March 18. This is stated on the company’s website.
“Due to changing market conditions, we are forced to cease CloudPayments activities in Uzbekistan effective March 18,” the message said.
CloudPayments filed a trademark application for online payments in Uzbekistan in April 2022.
CloudPayments was created in 2014. In 2017, TCS Group acquired a 55% stake in the company for 290 million rubles. In 2019, CloudPayments founders Dmitry Spiridonov and Konstantin Yan sold another 35% stake to Tinkoff Bank.
Later, Konstantin Yan transferred the remaining 5% to the company itself, and Dmitry Spiridonov joined the Tinkoff board of directors.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
