The 22 November President’s decree on additional measures in improvement of payment systems led to intensification of local banks and increase of post terminals.
The International Bank of Azerbaijan (IBA) purchases 5,000 Pos-terminals to implement the item of the decree on retail trade and services.
Other banks using plastic cards plan to purchase 1,000 terminals. The most interest is shown by the Bank of Baku, Bank Respublika, Azerigazbank, Bank Standard and others.
There are only 1,000 POS-terminals in the country. The Azerbaijani President allowed using of the fund from the public budget allocated to the National Fund for Assistance to Entrepreneurship in order to finance installation of terminals.