(MENAFN- Trend News Agency) Baku, Azerbaijan, Aug.18
By Eldar Janashvili – Trend:
The Board of the Central Bank of Azerbaijan (CBA) has made changes to the rules for conducting transactions via payment cards, Trend reports referring to CBA.
According to the amendments, non-cash transactions made by the issuer and/or acquirer through ATMs, POS terminals and other payment terminals will be made by inserting PIN code or using other methods applied by the issuer to identify the card user in case if the transaction is carried out in the amount of 100 manat ($58.8) and above (earlier this amount was 50 manat or $29.4), while the lower limit has not been set.
According to the source, this decision was made in order to further expand contactless payments in transactions with payment cards as a part of ongoing work to create a digital ecosystem, including innovative payment solutions in accordance with the State Program for the Expansion of Digital Payments in Azerbaijan for 2018-2020 approved by the decree of President Ilham Aliyev.
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