BAKU, Azerbaijan, November 30. Azerbaijan sees a very quick boost in payment tokenization, Vice President, Regional Manager Central Asia and Azerbaijan at Visa Cristina Doros said, Trend reports.
She made the remark during a panel themed "Open banking and API regulations: enabling secure data sharing and payment innovation" within the InMerge Innovation Summit in Baku.
"We are focused on digitizing payments all throughout the world, including Azerbaijan. We are gradually constructing the layers required for their ongoing advancement and development. When we first began operations in Azerbaijan in 1997, we were at the forefront of the cashless economy," Doros noted.
"We first accepted contactless payments in 2014. This laid the groundwork for the implementation of tokenization services in 2019, paving the way for the entrance of Apple Pay and Google Pay in the country. We are now witnessing the fastest increase in tokenized payments in Azerbaijan," she pointed out.
According to the vice president, Visa has also successfully deployed contactless payment acceptance on the Baku-Sumgait railway, paving the way for transit acceptance and promoting the development of digital payments.
The InMerge Innovation Summit has started in Baku on November 30 and will end on December 1.
InMerge, the region's largest innovation summit, is aimed at bringing together prominent organizations, entrepreneurs, and investors to debate the topic of innovation and potential alliances.
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