BAKU, Azerbaijan, Oct.16
By Zeyni Jafarov – Trend:
As part of measures being taken to expand the coverage of the instant payment system, two more Azerbaijani banks have been integrated into the system, Trend reports with reference to the CBA.
According to the CBA, Azer-Turk Bank OJSC and TuranBank OJSC through the branch network provided customers with the opportunity to use the functionality of the instant payment system. As a result, the 24/7 mode for calculations between individuals and legal entities, as well as government agencies, became possible to carry out through simplified identifiers (FIN code, mobile number, e-mail) on bank accounts and immediately reflect the flow of funds in the bank recipient's account.
The system of instant payments, created by the Central Bank of Azerbaijan (CBA) within the framework of the state program to expand digital payments in Azerbaijan for 2018-2020, approved by the order No. 508 of the president of Azerbaijan dated September 26, 2018, has been put into operation in real mode since October 1, 2020.
Currently, 15 banks and the State Treasury Agency of the Azerbaijani Ministry of Finance are integrated into this platform and work continues to expand the coverage of the system, as well as to increase the range of digital solutions provided to users.
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