FINTECH XIZMATLARINING XALQARO TO‘LOVLAR TEZLIGI VA XARAJATLARIGA TA’SIRI
Keywords:
Keywords: FinTech, international payments, SMEs, payment speed, transaction costs, digital finance, blockchain-based transfers.Abstract
ABSTRACT
This article examines the impact of FinTech services on the speed and cost of
international payments, with a particular focus on small and medium-sized enterprises
(SMEs). The study applies a comparative approach to analyse the differences between
traditional bank-based cross-border payments (mainly via SWIFT) and modern digital
solutions such as online payment platforms and blockchain-based systems. The
analysis draws on recent reports by international organisations, including McKinsey,
the World Bank, the BIS and the IMF, as well as key policy documents and laws
adopted in Uzbekistan in the field of payment systems and digitalisation. The findings
show that FinTech services significantly reduce the processing time of international
payments - from several business days to a matter of minutes or even seconds - while
also lowering transaction costs compared to conventional bank transfers. For SMEs,
this translates into faster turnover of working capital, more stable export-import
operations and lower entry costs to international markets. At the same time, the paper
highlights that the effective development of FinTech depends on an adequate
regulatory framework, robust security standards and the ability of businesses to adapt
to new technologies.
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