POS-terminal installation criteria to be changed in Azerbaijan

POS-terminal installation criteria to be changed in Azerbaijan

Azerbaijan, Baku, July 18 / Trend A. Akhundov /

The Azerbaijani Ministry of Taxes together with the Central Bank has submitted the drafts "Criteria for determining the sites where POS-terminals are installed" and "Rules of installation, use and application of POS-terminals in the Azerbaijani territory" to the Cabinet of Ministers, a report published in the Taxes Ministry's newspaper "Vergiler" said today.

As of July 1, 2012, the number of registered POS-terminals in Azerbaijan amounted to 33,268. The registration numbers were assigned to 23,729 POS-terminals in the first half of 2012, of which 22,604 units (95.3 percent) were registered in electronically.

CBA completed preparing a draft state program on development of the country's non-cash payments in 2012-2016. The main directions of the program are to expand the infrastructure for electronic payments, to strengthen institutional capacity, to increase efficiency of their use, to enlighten people, to more active involve in using these services to the population and economic entities.

According to the program, the share of non-cash payments in Azerbaijan will be increased by several times over the next five years. CBA plans to reach this level of the Baltic countries and the Middle East over the next five years. The share of non-cash payments in these countries now hits about 40-45 percent, while in Azerbaijan the figure is 3.5 percent.

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