Third Processing Center in Azerbaijan to be Introduced after Certification of International Payment Systems
Azerbaijan, Baku, 17 July/ Trend , corr. I.Khalilova / Establishing processing center in Kapital Bank delays due to the necessity of its certification in the international payment systems Visa International and MasterCard, a source at bank said. Each system has established schedules for certification.
The formerly introduced processing solution was planned to
be completed by the beginning of July. The installation of processing is being
tested currently. Creating processing center in Kapital Bank is carried out by
the Kompass Company.
The cost of project is €1.29mln. Its realization is provided due to own fund of the bank.
In the initial stage, the processing will be designed for serving cards of Kapital Bank, but in the future it is planned to expand access to other banks as well.
From the functional point of view, it will twice exceed the possibilities of the processing centers currently acting in Azerbaijan. [Two processing centers - Azericard, founder of which is the International Bank of Azerbaijan, which today serve Kapital Bank, and Millikart - founders are 18 commercial banks].
The capacity of the processing of Kapital Bank will comprise 2.5mln cards and it will serve 550 ATMs, 200 information kiosks and 5,000 POS-terminals. Currently the Bank issued 1.372mln cards and has 200 ATMs. There are plans to establish nearly 80-100 ATMs by to the end of the year.
Exchange rate on 17 July is 0.8058 AZN/USD.
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