New mobile payment system to appear in Azerbaijan

Business Materials 23 December 2015 20:20 (UTC +04:00)

Baku, Azerbaijan, Dec. 23

By Huseyn Valiyev - Trend:

A universal mobile payment system AzerPay will appear in Azerbaijan from 2016, AzerPay company told Trend Dec. 23.

The system will be tested in mid-January 2016. It will be launched in February.

The possibility of contactless payments, money transfers, applying for getting a loan, transactions with POS-terminals, account replenishment (via the Azerpost postal operator, terminals, receiving cash, ATMs), etc. will be among the advantages of the new payment system.

More than 160 kinds of payment services will be available in the payment system.

The service of the taxpayer identification number registration will be also offered for the users to receive the payments - Mobile POS. This service is aimed at private entrepreneurs. It will allow accepting payments related to the commercial activity and automatically paying taxes.

Several layers of protection, namely the subscriber code, mobile number, PIN-code, as well as combined methods of data exchange required to authorize any transaction, will be used to ensure security in AzerPay.

The means of protection will not allow getting access to the account, even if the user's mobile phone is lost.

Moreover, AzerPay customers will be able to get access to the payment system through the website azerpay.az.