BAKU, Azerbaijan, May 4
By Sadraddin Aghjayev – Trend:
MasterCard has increased the sum available for contactless payments in Azerbaijan (without entering a PIN-code) from 50 manat ($29.4) to 100 manat ($59), upon the initiative of the Central Bank (CBA) in 2020, the company’s representative in the country Erdem Cakar told Trend on May 4.
According to Cakar, through the CBA’s initiative the company also implemented a number of projects in the field of contactless payments.
In connection with the current epidemiological situation in the country, the use of contactless payments is a very important step, he said.
"There will be more NFC projects in 2021. We’re confident that use of NFC technology will increase the growth rate of payments and also facilitate them. We are working hard to bring state of the art technologies to Azerbaijan," added the company’s representative.
"The expansion of non-cash payments will contribute to the growth of e-commerce in the country. We’ll also enhance products that make e-commerce safer, simpler and faster," Cakar said.
"We are working very closely with our bank partners to ensure costs of the cashless economy are sustainable," he stressed.
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