Sunday, 05 December 2021 03:26 GMT

New payment system to be launched in Baku transport

(MENAFN- AzerNews) By Sara Israfilbayova

The issuance of new cards for transport payment is expected in early spring. These cards will support the interface of card readers installed in the buses of the capital and Baku Metro.

For convenience of payment for travel in Baku, the number of cards for non-cash settlements for passengers will increase.

Currently, non-cash payment is carried out via BakiKart transport cards for travel in the metro and buses of the BakuBus transport company.

Purchase and loading of cards is available in BakiKart and MilliÖN terminals. Their cost is 2 manats ($1.2).

There is also BakiKart with limited use, the cost of which is 0.2 manats ($0.1), where can be downloaded up to four trips.

BakiKart is a new electronic single payment card designed to meet the demands of passengers following international standards applied in public transport of Bakufrom August 2015.

The law 'On non-cash payments was adopted in order to strengthen accounting in the financial system, through the development of non-cash payments.

The law envisages a limit for cashing operations. Banks and postal operators will charge a simplified tax (1 percent ofthe sum) tocashmeans kept in bank accounts of legal entities and private entrepreneurs.

The Central Bank of Azerbaijan (CBA) and MasterCard have launched Cashless Azerbaijanproject, which includes three stages, in February 2017.

The first stage is measuringthe country's cash economy, the second isdefininga strategy for non-cash payments, and the third stage is preparinga detailed plan of actions.


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