(MENAFN- Trend News Agency) BAKU, Azerbaijan, December 2. Within
the memorandum between MasterCard and the Central Bank of
Azerbaijan (CBA), it is planned to widen cooperation in the field
of digital payments by 2025, General Manager of Mastercard in
Azerbaijan and Turkiye Avsar Gurdal told trend .
According to him, the digitalization of payments is
one of the strategic plans of almost all countries.
'The cash and its turnover control create additional
costs for the country. While digitalizing the payments, we increase
transparency and tax revenues, as well as facilitate turnover and
control. Within the signed document with the Azerbaijani bank, it
is planned to increase the cashless payment acceptance points
including in taxis, small cafes, and restaurants,' said Gurdal.
'Moreover, in cooperation with CBA, we aim to increase
the number of contactless bank cards. Today, the number of bank
cards in Azerbaijan exceeds 12 million (more than 70 percent of
which are contactless). The emission of contactless and digital
bank cards and the increase of their number in turnover contribute
to the acceleration of payment digitalization. There is work
underway in this direction,' he added.
He said that the initiatives implemented by the
parties create a basis for widening the cooperation with small and
medium business entities, as well as for supporting innovative
companies in the financial sector.
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