BAKU, Azerbaijan, June 2
By Zeyni Jafarov - Trend:
It was possible to achieve huge growth in non-cash payments within the state program to expand digital payments in Azerbaijan for 2018-2020, Director General of the Central Bank of Azerbaijan (CBA) Farid Osmanov said.
Osmanov made the remark at the ceremony of launching a contactless fare payment system by using payment bank cards in partnership with Azerbaijan Railways, the Central Bank of Azerbaijan and the International Bank of Azerbaijan, Trend reports on June 2.
“The number of payment cards increased by 44 percent, which amounted to 10.1 million cards while the number of contactless cards increased by 5.5 times and amounted to 4.6 million cards,” the director-general said.
The ongoing dynamic increase in the number of contactless cards in the market will accelerate the efficient and rapid introduction of contactless payments on the railways.
Osmanov stressed that the main strategic goal in the digitalization of payment services for the Central Bank of Azerbaijan is the global transformation of the cashless economy in Azerbaijan by creating convenient payment solutions for consumers.
Earlier, Osmanov stressed that the work on the roadmap for open banking in Azerbaijan was planned to be completed in May 2021.
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