Baku, Azerbaijan, Feb. 15
By Huseyn Valiyev – Trend:
Number of active payment cards issued by Azerbaijan's Azerpoct LLC reached 80,000, the company announced.
The number of cards increased considerably in 2017.
"According to the changes adopted to the Law on E-commerce in 2016, non-bank financial companies (NBFCs) and pawn shops obliged to work directly with banks. As is known, Azerpoct doesn't issue loans, so it doesn't compete with NBFCs and pawn shops. That is why they chose Azerpoct as their partner, leading to a considerable growth in the number of payment cards," the announcement said.
Azerpoct LLC has an extensive postal network, which includes more than 1,500 post offices in Azerbaijan.
Azerpoct LLC started to render financial services in 2012 in line with a license of the Central Bank of Azerbaijan. More than 1,200 post offices of the company provide all kinds of bank services (excluding loan issuance and deposit drawing) in line with the license of the Central Bank.
---
Follow the author on Twitter: @h_veliyev