4.5m downloads: ZoodPay and ZoodMall app, driving adoption of digital lending and e-commerce in Uzbekistan
Offering a unique ecosystem of fintech, e-commerce, and e-logistics services to shoppers, merchants and businesses across the country
Michael Khoi: “The ZoodPay team is focused on serving the needs of this large, yet untapped market and driving socio-economic growth in Uzbekistan”
Tashkent, Uzbekistan – 4 December, 2022
ZoodPay, a leading digital-lending platform for e-commerce in Central Asia and the Middle East, announces that its app has been downloaded 4.5 million times in Uzbekistan, reflecting a positive response to the service in the country.
ZoodPay’s solid strategy has helped see the growth of its unique ecosystem of fintech, e-commerce, and e-logistics services to consumers, merchants and businesses across Uzbekistan, one of the largest markets in the Commonwealth of Independent States (CIS).
ZoodPay’s online marketplace ZoodMall is the largest in the country, boasting more than 6 million products from 30,000 local and cross-border sellers. The company also offers two main lending products: ZoodPay BNPL, an interest-free flexible payment solution spread over four equal installments; and ZoodPay Credit, an interest-bearing payment solution repaid over six or 12 equal installments.
ZoodPay installment plans are available in the ZoodMall marketplace, and across thousands of online shops through the ZoodPay API. ZoodPay has extended its installment service offline in four of the largest cities in Uzbekistan, namely Tashkent, Samarqand, Andizhan, and Fergana, where customers can shop effortlessly in more than 2,000 stores across the country and gain access to global brands.
ZoodPay was also recently ranked among the top three most popular online shopping platforms in Uzbekistan, based on a survey conducted by XResearch ECOM, a company specializing in researching the e-commerce market in Uzbekistan.
Commenting on the company’s achievement, Michael Khoi, CEO of ZoodPay said, “The ZoodPay team is focused on serving the needs of this large, yet untapped market and driving socio-economic growth in Uzbekistan. Prior to ZoodPay’s presence in the country, e-commerce was almost non-existent and today, we are proud to reach this milestone of 4.5 million app downloads, single-handedly creating innovative and localized solutions in consumer lending, online commerce, and e-logistics.”
Earlier this year, the company also announced the introduction of ZoodPay SME Inventory Financing, which helps small and medium enterprise merchants accelerate their online business through inventory financing. The service also provides merchants with warehousing, online content creation, packing, and last-mile delivery through a dedicated fulfillment center and e-logistic solution at no additional charge.
To complement its ecosystem, ZoodPay has recently launched the largest open network of pick-up lockers in Uzbekistan in collaboration with Fargo, where 1,500 lockers will be distributed across the country, providing customers with greater convenience in delivery options and enhancement of last-mile delivery capabilities. Customers can pick up their packages from the lockers at any time, which are within walking distance of their homes, decreasing last-mile delivery costs.
ZoodPay currently operates in Uzbekistan, Iraq, Jordan, Lebanon, and Pakistan, serving a total population of over 300 million.