Baku, Azerbaijan, April 16
By Huseyn Valiyev – Trend:
Payment services Apple Pay and Google Pay will be deployed in Azerbaijan through the international payment system Visa International, head of Azexport portal Zaur Gardashev told Trend.
He said that this issue is still at the stage of negotiations and Azerbaijan's banking structures will join the process.
"It is important that the banks' infrastructure is ready for accepting such payments. However, issues related to legal regulation, as well as the existence of gaps in the sectoral legislation in a certain sense hinders the deployment of these payment services in the country. The complexity lies mainly in conservatism of banks and regulators. But we hope that we will be able to reach a common agreement so that appropriate rules are developed, " he said.
Despite the fact that many financial market participants say that there are no obstacles to the deployment of international payment services in Azerbaijan, these companies are more inclined to act within the local legislation in order to insure themselves, according to him.
Gardashev said earlier that the current sectoral legislation of Azerbaijan is built on the basis of classical card systems, while special digital codes - tokens are used when making payments through Apple Pay and Google Pay. In this regard, there is a need for the concept of tokens to be identified in the legislation.
Follow the author on Twitter: @h_veliyev