Azerbaijan, Baku / Trend / Unibank obtained acquirer status with Visa International and the POS-terminal network of Unibank supporting the Visa magnetic and smart cards issued by overseas banks now.
Following the resolution of the Visa International CEMEA (Central Europe, Middle East and Africa) Board of Directors, Unibank was licensed as a VISA International acquirer in winter this year becoming the first private bank and, generally, the third bank in Azerbaijan to be a Visa International acquirer.
The Bank can enter into POS-terminal location agreements with mercantile businesses independently following completion of the certification. Furthermore, the acquirer status is promotional to the card business of the Bank and will help attract corporate customers engaged in trade and services.
Unibank started co-operation with Visa International and became an associate member in 2003. In 2006, Unibank became a principal member and launched two card products - the ALKart Credit Card and the Bespoke Design Card - that are unique to the banking market of Azerbaijan.
Unibank issued 23,355 Visa International and MasterCard cards in the first half of 2007.