Baku, Azerbaijan, Feb. 27
By Huseyn Valiyev - Trend:
Apple Pay and Google Pay payment services will appear in Azerbaijan, Zaur Gardashov, head of Azexport portal, told Trend.
He said that there are certain legal barriers that don’t allow these payment systems to fully operate in Azerbaijan.
“Our legislation is built on the basis of classical card systems, while special digital codes, tokens, are used in payments via Apple Pay and Google Pay,” Gardashov said. “It is necessary to define the concept of tokens in the legislation in order to eliminate existing technical barriers and to make it possible for these payment systems to come to Azerbaijan. Maybe it will take one month and maybe six months.”
Apple Pay is a mobile payments service that allows users to make payments in person, in iOS apps, and on the web. It digitizes and can replace a credit or debit card chip and PIN or magnetic stripe transaction at a contactless-capable point-of-sale terminal. It is very similar to contactless payments already used in many countries, with the addition of two-factor authentication via Touch ID, Face ID, PIN or passcode.
The service lets Apple devices wirelessly communicate with point of sale systems by using a near field communication (NFC) antenna, a "dedicated chip that stores encrypted payment information" (known as the Secure Element), and Apple's Touch ID and Wallet.
Google Pay (formerly Pay with Google) is a payment system launched by Google in 2017 as a payment method for online shopping. It took over the branding of Google Chrome's autofill feature. Google Pay would have all the features of Android Pay, and would include Google Wallet features such as requesting and sending money.