Apple Pay, Google Pay, Samsung Pay may soon be introduced in Azerbaijan

ICT Materials 2 May 2019 09:59 (UTC +04:00)

Baku, Azerbaijan, May 2

By Kheyraddin Nasirzade – Trend:

Today, a tokenization service [token - a virtual unit of expression of value, a medium of exchange for goods or services and obligations in a digital format] is being introduced together with the leading Azerbaijani banks, which will ensure full operation of Apple Pay, Google Pay and Samsung Pay in Azerbaijan, and logos of these payment systems are expected to appear at payment acceptance points in the autumn, Zaur Gardashov, head of Azexport, told Trend.

Gardashov also noted that the PayPal system may appear on the Azerbaijani market. The company is interested in entering new markets and carefully evaluates the possibilities for entering the local market of Azerbaijan. According to him, it is necessary to create an appropriate legal and technological base to ensure the full-fledged work of PayPal, and Azexport is now actively working together with the relevant structures to this end.

According to Gardashov, almost all countries which PayPal operates in are members of the World Trade Organization (WTO), which is also an important criterion for the company's entry into certain markets.

The head of Azexport noted that the company continues to work on the improvement of the electronic payment system and cooperates with such major platforms as Visa International, Mastercard and Swift, which ensure the work of not only PayPal, but also all other payment systems.