Pay Way

History

2025: UPay co-founder buys Pay Way

A controlling stake in the Pay Way payment system in the amount of 74.38% passed into the possession of the co-founder of the payment service UPay Behzod Botirov. The transaction was registered in February 2025 on the Unified Corporate Information Portal. Uzbekistan

According to Spot.uz, the purchase was carried out in two stages: first, 45.15% of the shares were purchased, then another 29.23%. After the completion of the transaction, Behzod Botirov also joined the Pay Way supervisory board.

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Фото: Freepik

The share of Bunyod Sattarov, who previously served as the main founder and head of the Pay Way executive body, decreased from 50% to 10.39% after the deal was concluded. Despite the share reduction, he retained his position and continues to lead the company.

Current Pay Way Share Allocation:

• Behzod Botirov - 74.38%
• Bunyod Sattarov - 10.39%
• Alexey Moskovtsev - 8.9%
• Norik Swazyan - 6.16%

The redemption of shares from minority shareholders by market value began on February 14, 2025 after the acquisition of a controlling stake in Pay Way by Behzod Botirov. The new shareholder invited the owners of the remaining packages to realize their shares in the transaction.

According to the publication, Pay Way has been a resident of the IT Park technology park since July 2022. The company is registered in Andijan and specializes in providing payment services.

As part of the deal, Alexey Moskovtsev and Rishat Mustafin were excluded from the list of Pay Way affiliates. Changes in the composition of affiliates were registered on February 14, 2025.

UPay co-founder Behzod Botirov is actively developing the financial technology sector in Uzbekistan. In January 2025, he presented an analysis of the installment services market, outlining the main trends in the development of the industry and the necessary conditions for its sustainable growth.^[1]

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