Azerbaijan, Baku, March 14 / Trend A. Hasanov /
The International Bank of Azerbaijan (IBA) has joined the Coinstar Eurasia integration processing system, which will allow money transfers to be conducted with Azericard bank cards.
This service must work from April 15, as technical issues have to still be resolved, head of İT Coinstar Department Sergei Kochergin told Trend.
"We are currently testing errors," he said.
"Earlier, it was expected to launch the service in December 2011, but, for technical reasons, this process was postponed until April 15," Kochergin said.
The project aim is instant online money transfer to Azerbaijani cardholders.
"Citizens living in Russia and carrying out money transfers in Azerbaijan, get a convenient service," he said. "It will not be required to change money from one currency to another several times to transfer, stand in queues, and so on. Direct conversion will contribute to strengthening the national currency."
It is assumed that, as the number of participating banks that have joined the project will expand.
Coinstar Eurasia specializes in b2b-services in the financial sector: business and IT development in the area of payments, money transfers and other financial services. The company is better known as the provider of own international money transfer Coinstar Money Transfer in CIS countries.
Coinstar Eurasia has been expanding its presence in the CIS market since 2009, introducing a new principle of business integration of retail financial organizations and providers' services.
Coinstar Eurasia has created a portfolio of financial services for the market in Europe and the CIS.