Azerbaijani bank implements online-loan payment system
Azerbaijan, Baku, Jan. 17 / Trend, H. Valiyev /
Goldenpay technically completes the online-loan repayment system in Azerbaijani Unibank, the company told Trend on Thursday.
The system envisages opportunities for borrowers to repay loans through the Internet, which will be an entirely new service rendered by the bank to customers. The loan will be paid through the borrower's credit card funds.
The borrower will have to ensure the availability of funds in the bank account equal to the amount necessary to repay the debt by the scheduled date.
The advantage of electronic payment is that besides paying for the loan, the user will not have to pay an extra fee for this kind of service.
"At present, issues relating to the commission, as well as technical aspects have been completely resolved", the company said. "Changing the bank identification number (BIN) is a limiting factor in the practical use of this type of service. As it turns out, not all card accounts were tied to current accounts. The bank assured that it will resolve the problem during the next few days. Beta testing of the service will start as soon as possible. Afterwards, it will be available to all."
Goldenpay said that leasing companies and non-bank credit institutions which are also able to connect to its online-payment system are next.
"We are very interested in the largest networks selling mobile phones, which have their own loan programs", the company said. "They also have queues, inconveniences related to the regions, etc. At present, we are negotiating with them. Mobile phone providers are interested in connecting with the banks. Moreover, one of the advantages of banks is that the number of loans that those connected to the service provide must not be less than 300,000 units".