BAKU, Azerbaijan, August 5. A total of 133,000 transactions worth 225 million manat ($132.35 million) were carried out through the instant payment system of the Central Bank of Azerbaijan (CBA) in the first half of 2022, Trend reports via the "Payment system review" of the CBA.
During the reporting period, the number of transactions through QR codes within the instant payment system amounted to 1,700 worth 5,800 manat ($3,411)," the review said.
According to the CBA, the great efforts are being made on expanding the system functionality. Thus, 2021 witnessed the possibility of making non-cash payment through the QR-code. The main advantage of it is the direct payment through bank accounts.
The payment method through the QR-code is considered to be more efficient for secure daily payments.