Why is this important
Precious metals vending machines are rare in the region: launching such a device makes gold more affordable and increases financial inclusion. Fintech companies in Uzbekistan strive to become not only payment intermediaries but also investment platforms. The ability to buy gold “by the hand”, without intermediaries, can stimulate demand for precious metals among the population and adjust savings dynamics.
What happened: key facts
- Paynet installed an automatic gold vending machine at the Tashkent City Mall mall.
- The apparatus has castings weighing 5 grams, 10 grams, 20 grams, 50 grams, and 100 grams.
- Prices are set at the Central Bank rate.
- Earlier, Paynet announced the launch of the option to purchase investment gold through the app.
Context
In Uzbekistan, fintech companies are actively developing beyond-payment services: foreign transfers, BNPL, and investments. Paynet announced five new projects in July 2025, including investment gold. Gold is traditionally perceived as a means of preserving value — in conditions of currency and inflationary instability, interest in precious metals increases.
Using the ATM model for selling gold is a relatively new practice: it allows for cost reduction, process automation, and increased accessibility. However, such innovations may require clear regulation: verification of ingots’ authenticity, ensuring liquidity (repayment), compliance with cargo and cash security.
What’s next
The project’s success will show whether the “gold mine” format will expand across the country — like an ATM network or integration into fintech companies’ applications. The question arises: will Paynet provide a redemption of gold at the same prices, will the guarantee/certification of bars be valid, as banks and the Central Bank will react. This step could stimulate competitors and the banking sector to implement similar solutions, strengthening the role of gold in retail and investment services.
