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PAYSIS expanding range of innovative services in Azerbaijan

ICT Materials 24 November 2020 14:53 (UTC +04:00)
PAYSIS expanding range of innovative services in Azerbaijan

BAKU, Azerbaijan, Nov. 24

By Sadraddin Aghjayev – Trend:

The business suffered big problems related to the sale of its products during the pandemic, Director General of PAYSIS company, the legal owner of the E-PUL payment system Samir Nasibov said in an interview with Trend.

“The entrepreneurs attempted to create websites, applications, and alternative sales channels, requiring big investments in the development and promotion of one channel or another,” Nasibov said.

“In turn, we offered the businessmen a ready-made sales base with a current customer base of 400,000 active users and with three million people visiting the website monthly,” the director-general added. “We have an active audience of 400,000 people and our client base is growing at a monthly rate of seven percent.”

“Growth is stimulated primarily by the convenience of payment because the user pays for services in three taps,” Nasibov said. “One can also make real payments with our bonuses. Bonusstore has also turned into a marketplace, primarily for our users to be able to get one or another product offered by our partners in the marketplace free of charge by exchanging the bonuses.”

“Moreover, I would like to stress that one can pay for the services of over 200 companies on the E-PUL platform today,” the director-general added. “This list is actually supplemented every day. This is done for the maximum convenience of users, as well as within the state program for the development of cashless payments."

“Today BONUSSTORE platform is being tested although one store has already been connected to the platform,” the director-general said.

It already has the biggest number of payment methods of goods in the country:

• Bank card;

• Card saved in a secure Masterpass environment;

• By using the collected bonus points in the E-PUL payment service;

• Payment on credit / taxit (Bolkart, Birkart, Tamkart);

• Cash payment (MilliÖn, eManat, ExpressPay, Kassa.az).

“An increase in payments in the first quarter of this year compared to the same period of 2019 amounted to almost 214 percent,” Nasibov said. “During a pandemic, the service sector seems to have weakened, the economy is in a state of stagnation, which undoubtedly affected our indicators, there is growth, but insignificant.”

In an interview with the director of the E-Pul payment system, we talked about the overseas audience.

“Of course, our service is actively used in Russia, Ukraine, Germany, the US, the United Arab Emirates, and other countries,” the director-general added. “Many of our citizens in Azerbaijan use foreign cards. We check each card according to certain parameters to avoid cases of fraud. I would also like to stress that we would be glad to open access to all cards around the world. But tariffs for services often do not cover a foreign transaction. In connection with this factor, the abovementioned rule remains."

While speaking about expanding the capabilities of the payment system, Nasibov said that PAYSIS gives an opportunity not only for companies but also for small businesses (entrepreneurs) to accept online payments.

"We have the ability to connect everyone who accepts online payment,” the director-general said. “Besides a universal and multi-channel tool for accepting payments, we also offer a sales platform with an advertising monthly promotion budget of $ 7,000 and 400,000 potential customers."

“The projects are not being implemented as quickly as we would like, which is connected with the pandemic,” the director-general said.

"We, as you know, have launched QRPAY projects in the LUKOIL filling station network and will announce the launch of this project in SOCAR filling station networks,” the director-general said. “This payment method is innovative in Azerbaijan and greatly increases the throughput in the filling station networks. Despite our pessimistic calculations, today, the share of QRPAY payments in the LUKOIL filling station network of the total turnover is 0.3 percent.”

“This indicator is positive, given that the project is innovative and the population has no experience with payments of this type in the filling station network,” the director-general said. “As part of covering most part of the market, we are also negotiating with representatives of AZPETROL filling station network. During the current period, PAYSIS is actively working with React Native technologies, and, to some extent, experimenting with blockchain technologies.”

"The world of technologies is developing and requires huge funds and time to support technologies,” Nasibov said. “Now we are rewriting the front-end of the website and mobile applications by using a completely new technology."

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