TBC Bank buys remaining 49% of Payme for $55.7m

TBC Bank said it had agreed to buy the remaining 49% of Uzbekistan payments firm Payme in for $55.7m in cash.

Payme is a digital payments provider in Uzbekistan for individuals and small businesses, offering person-to-person transfers, bill payments, QR payments, e-commerce, cross-border money remittances, loan repayments, personal financial manager services and government services.

The deal price implies a total valuation of $113.6m for Payme, TBC said.

Reporting by Frank Prenesti for Sharecast.com