Jalal Orujov, the Executive Director of the Processing Center вЂ" Millikart informed Trend that the international payment systems, Visa & MasterCard has put forward proposals to the National Bank of Azerbaijan (NBA) to introduce lax local tariffs, Trend reports. At present, international tariffs are applied to all operations in the Processing Centres, Millikart and Azericard, despite of the fact that the issue and acquiring are carried out in the country.
However, due to the fact that they have to carry out the convertation to USD, additional expenses arise. Due to this, Visa has put forward a proposal to set up the National Clearing System till the end of the year. According to Mr. Orujov, the Processing Centre has already completed the negotiations with this payment system, but, at the same time, they intend to launch the work with MasterCard in this direction.
NBA is a mediator in this process. However the lax system will be applied to the activity of the both processing centres. Due to the introduction of the lax local tariffs, the gain of the subscribers of the cards will reach 1% out of the volume of operation. On the whole, it will bring to the reduction of the tariffs of Visa and MasterCard in 4-8 times.