BAKU, Azerbaijan, February 7. The adoption of the law "On Payment Systems and Services" will allow United Payment LLC to apply to the Central Bank of Azerbaijan (CBA) for an appropriate license for commission-free money transfers from Azerbaijan to Turkiye, Managing Director of the company Edgar Abdullayev told Trend.
According to him, the company aims to implement fast, affordable, and convenient international money transfers.
"Also, we plan to integrate with such international companies as Wise (TransferWise), Remitely, Azimo, and TransferGo and provide options for transferring funds both from Azerbaijan abroad and vice versa. It is expected that at the first stage, money transfers will be commission-free. Our main focus is to provide a convenient and fast money transfer process," he said.
Abdullayev noted that the company takes into account the internal rules of money transfer regulation, as well as the requirements of the bank.
"We do not plan to transfer cash. We only accept funds for transfers from bank accounts or bank cards. This makes it possible to prevent money laundering, as well as counteract the financing of terrorist organizations," he added.
United Payment LLC offers a digital wallet, virtual or physical pre-paid card, domestic and cross-border money transfer, etc.