BAKU, Azerbaijan, April 5. Payment tools meeting the two criteria will be considered as payment tools of small amounts in Azerbaijan as reflected in the "Rules of Payment Transactions and Payment Tools" approved by the Board of the Central Bank (CBA), Trend reports.
According to the decision, these criteria are as follows:
- Payment operations on a single tool within a calendar month must not exceed 300 manat ($176.4) or its equivalent in foreign currency;
- The balance held in the tool must not surpass 300 manat ($176.4) or its equivalent in foreign currency.
In addition, the decision states that payment tools that do not require identification of the user of the payment service must meet the following requirements:
- Can be used only for payment transactions within the country;
- Cannot be used for money transfers and cash expenditures;
- Can only be used by natural persons.
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