Azerbaijan has great potential to develop payment systems market - Yandex
Baku, Azerbaijan, Sept. 26
By Huseyn Valiyev – Trend:
Azerbaijan has great potential and prospects for the development of the payment systems market, Dmitry Karmishin, head of sales at the company Yandex.Money, told Trend.
Despite that the share of e-commerce in Azerbaijan is not so great, Yandex sees great prospects for the development of its business in the country, he said.
“The CIS market is strategic for us, and we are already present in the CIS countries,” he noted. “If Azerbaijan is compared with other CIS countries, the payments landscape varies from country to country. For example, in Belarus, there is the ERIP payment system, and other countries have other systems. Therefore, when we enter a market, we integrate with local vendors. Our partner in the Azerbaijani market is Paynet company, which provides maximum service for its customers. This company does its job well and represents us in the market. We are satisfied with this.”
The economy of Azerbaijan is growing every year, and it is getting better to live in the country, he said.
“When people earn more, they spend more,” he added. “When the standard of living rises, for example, people become too lazy to go to the store, and start doing shopping online. Today, for example, the food delivery market in Moscow is the fastest growing among similar categories. People have no time and the special need to go to the store. Many people order and pay online. The state, which encourages transition to cashless payments and takes steps for the emergence of new online services, also has a great merit in this.”
In Azerbaijan, the company Yandex first of all represents the Yandex.Money wallet service, he said, adding that it has proved itself well and holds the first place in terms of cash flow in Russia.
“Many people move to live in other countries, but their habit of paying by using the Yandex.Money wallet remains,” said Karmishin. “So for people who live in Azerbaijan, for their relatives who work remotely, we provide our Yandex.Money wallet, as well as the infrastructure of payment by bank cards through Paynet.”
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