BAKU, Azerbaijan, August 12. Mastercard plans to expand its partner network for the development of a near-field communication (NFC) business needed for contactless payments in Azerbaijan, Avshar Gurdal, Mastercard General Director for Azerbaijan and Turkiye, told Trend.
“For supporting the sustainable development of the market, we are committed to working with all stakeholders by sharing our latest technologies and field-related expertise. Our investments in the transformation of cash into cashless and tokenized NFC transactions will continue, at the same time we will expand our partner network for contributing to our growing NFC business,” he said.
Currently, e-commerce accounts for 60 percent of non-cash transactions in Azerbaijan and is one of the pillars of the country’s cashless economy, Gurdal noted.
“We will continue investing in Masterpass, which enables faster and more secure online shopping, as well as reshapes e-commerce by continuously attracting new merchants to the platform. We will keep cooperating with the Central Bank of Azerbaijan, commercial banks, and payment systems to prevent possible cyber threats by deploying our latest technologies,” the general director added.
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