Azericard tests transmission to new currency

Business Materials 22 December 2005 15:27 (UTC +04:00)

Azericard processing center tested its system of transmission to new currency within the measures on application of new banknotes from 1 January 2006, the center told Trend.

90% of the POS-terminals loaded new SOFT, while they are not work with both banknotes yet. The final changes will be made in cash machines and POS-terminals from 31 December to 1 January 2006. They will be turn off for some time.

The configuration of the cash machines will be changed by banks. Azercard held training for bank personnel.

Though banks will be able to issue old and new banknotes till 1 January 2007, cash machines and POS-terminals will issue only new one.

At present over 800 POS-terminals function in the country with 550 falling to the International Bank of Azerbaijan (MBA), 250 вЂ" Capitalbank. There are also around 800 cash machines with 450-500 falling to MBA, 150 вЂ" Capitalbank, 25-30 - commercial banks.