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Azerbaijani payment system to offer instant digital banking cards

Economy Materials 20 April 2021 17:25 (UTC +04:00)
Azerbaijani payment system to offer instant digital banking cards

BAKU, Azerbaijan, Apr. 20

By Sadraddin Aghjayev – Trend:

Azerbaijan's E-Pul payment system has resumed negotiations with partner banks and will soon provide users with the opportunity to instantly receive a digital banking card, Samir Nasibov, general director (CEO) of PAYSIS (the owner of the E-PUL payment system), told Trend on Apr.20.

According to Nasibov, earlier, due to a change of the partner bank the company suspended this activity.

The CEO reminded that back in 2015, the platform issued digital prepaid cards (drawn up without tie to the holder's name by opening a separate personal account), which were previously called virtual cards.

"Today we resumed negotiations in this direction and in the near future we’ll provide users with the opportunity to instantly issue a digital card with the ability to replenish the balance, track it online, receive a statement and ensure complete confidentiality of transactions," he said.

According to him, it’s planned to connect this product to NFC (Near-Field Communication) technologies by the end of 2021.

The CEO also announced the release of a new mobile application.

"Our existing application has outdated, and therefore we cannot compete with other players in the market. The new application will introduce several innovations that will greatly simplify the transfer of funds from card to card and help small businesses," added Nasibov.

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Follow the author on Twitter: @agdzhaev

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