Two More Azerbaijani Banks Join International Payment System

Business Materials 23 November 2007 16:04 (UTC +04:00)

Azerbaijan, Baku /corr. Trend I.Khalilova / Two more Azerbaijani banks, AzerturkBank and Debut Bank, which render services in Millikard LLC, became associated members of the international payment system MasterCard, said the Director of the Processing Center, Jalal Orujov, on 23 November. At the same time, they are shareholders to Millikart.

By the end of the year, AzerturkBank plans to increase the number of its cards up to 2-3.000 and the Debut Bank - 5.000. According to Orujov, at the beginning stage, these banks will issue magnetic cards and on a par, certification is being held for chip technologies.

Currently the certification for chip technologies is also being held by Azerbaijan Senaye Banki Banki (earlier CIBank). By the mid of December, it will begin issuing cards of this system. Unlike AzerturkBank and Debut Bank, Azerbaijan Senaye Banki already works in the card market, issuing local cards. The general number of the cards issued by the bank will be increased to 20.000 by the end of the year.

All these three banks are members of the payment system under the sponsorship of Azerdemiryolbak.

Currently 10 banks render services via Millikard. The banks include Azerdemiryolbak, UniBank, Azerbaijan Senaye Banki, AzerturkBank, Debut Bank, Micro Finance Bank of Azerbaijan, Zamin Bank, AF Bank, EuroBank and Atlanbank.