Azerbaijan expands postal money transfer service in Baltic countries
Baku, Azerbaijan, Dec.22
By Huseyn Veliyev - Trend:
Azerbaijani postal operator Azerpost LLC prepares to sign a contract to provide money transfer via STEFI (Secured Transfer of Electronic Financial Information) system with the Lithuanian post, a source on the telecommunications market of Azerbaijan told Trend.
The system will be commissioned in the first quarter of 2015, according to the source.
STEFI system was developed by the Postal Technology Center of the Universal Postal Union and makes it possible to move from the paper exchange of international postal transfer to the electronic one. Application of STEFI system will allow the Azerbaijani postal operator to carry out urgent money transfer services to Lithuania for 30 minutes.
At present, Azerpost conducts urgent money transfer services via STEFI to Ukraine, Belarus, Moldova, Russia, Kazakhstan and the UAE. The service will be launched with Kyrgyzstan and Tajikistan by late 2014.
The main advantage for Azerbaijani postal operator is that the income obtained as part of the transactions via STEFI system remains at its disposal.
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