IBA, Russian banks in talks to integrate card payments
Azerbaijani, Baku, Nov. 24 / Trend , U.Ismayilova /
The International Bank of Azerbaijan, its Moscow subsidiary and AzeriCard are continuing to integrate card payment systems with several CIS banks, IBA Chairman Cahangir Hajiyev said today.
"Technical issues are being elaborated. This does not only depend on us," the official said. He added that talks are continuing within the process, in particular with Russian banks, including the FTB.
"Not only talks, but also operations are underway. We need to create a pilot project for other banks to be able to join the system," Hajiyev said.
IBA has experience integrating card payment systems, and operates subsidiaries and additional offices in Moscow, Saint Petersburg and Yekaterinburg. IBA's share on the Azerbaijani card payment market exceeds 50 percent. The bank owns modern IT in the sector. Accordingly, banks with a significant share of transactions and infrastructure in the card market segment can also join the project. Sberbank and FTB24 are likely participants from among Russian banks.
The project's implementation is profitable, drawing additional investors to subsidiaries and offices.
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