MasterCard grants membership to one more Azeri bank

Society Materials 16 January 2006 18:27 (UTC +04:00)

International payment system MasterCard is expected to make a decision on granting of full membership to Technikabank in mid-February, Khagani Guluzade, the first deputy chairman of the Board of the bank, told Trend. MasterCard will issue chip cards for Technikabank due to transition of all issuers into chip technology. The certification of the bank will complete during a month in relation to the transition into chip cards and other payment system Visa International. Technikabank is a member of the organization from 2004 and issues cards with magnetic strip since this date.

The bank plans to increase number of cards up to 50,000 in 2006. It issued around 20,000 Visa International cards. According to Kh.Guluzade, though the bank started issue of local cards, their issue was suspended.

As to maintenance of cards, Technikabank intends to work through the both processing centers - Azerkard and Millikart.