Yandex.Money plans to expand presence in Azerbaijan

Business Materials 21 May 2019 12:36 (UTC +04:00)

Baku, Azerbaijan, May 21

By Sara Israfilbayova – Trend:

Russia’s Yandex.Money electronic payment service plans to expand its presence in the Azerbaijani market, Anna Murzina, International Business Development Manager at Yandex.Money, told Trend.

“The market is new and unexplored for us. We are still studying the market in order to understand the capacity and the needs of the market,” she said.

In her words, people in Azerbaijan do not try to use non-cash payments, so there is a need to teach them not to be afraid of using non-cash payments and bank cards.

"It is necessary to teach children from school years and to conduct various trainings for adults. Yandex.Money regularly conducts training programs and courses. We invite speakers and experts from the field of financial technologies be the trainers. We constantly provide information about new trends," she said.

Murzina noted the importance of Azerbaijan’s State Program on Digital Payment Expansion in 2018-2020, adding that the Azerbaijani government pays special attention to this issue and seeks to increase the share of contact-free payments.

Among the most popular areas of financial technology, Murzina singled out payments using QR codes.

Murzina noted that Belarus and Kazakhstan are the leading users of financial technologies among the CIS countries, and the next countries to introduce these technologies will be Georgia and Azerbaijan.

Follow the author on Twitter: @IsrafilbekovaS