Third Payment System to Enter Azerbaijan Card Market
Azerbaijan, Baku/ Trend , corr. I. Khalilova/ The international payment system, American Express is expected to announce the Azerbaijani Bank in May, 2007, which will be chosen as its agent in Azerbaijan, a source in the Processing Centre - "AzeriCard" has said today. American Express is currently holding a tender, where the three Azerbaijani banks is participating - IBA (International Bank of Azerbaijan), AGBank (AzeriGazbank), and Bank Standard.
During their last visit to Baku paid in February, 2007, representatives of American Express held meetings with representatives of these three local banks.
The introduction of cards of the mentioned payment system in Azerbaijan is expected to take at least six months. All the cards will be acceptable for all the existing ATMs, which will be re-equipped to accept all cards of American Express.
The worldwide advantage of American Express cards lies in the fact that the system's cards are credit ones. The subscriber may use the limit on a credit, which is to be paid within a month.
However, "AzeriCard" considers that the terms of American Express are tight, and that they have determined their own frames and limits depending on a product to be bought.