(MENAFN- Trend News Agency)
BAKU, Azerbaijan, January 6. Dozens of modern
technologies, digital solutions and business tools have been
recently introduced in Azerbaijan, allowing to improve the quality
of life of the country's residents and give impetus to the
development of the economy.
the digital trends of 2022, introduced in Azerbaijan with the
support of Visa, the world leader in the digital payments industry,
which are accelerating the country's transition to a cashless
It was reported that Visa Token Service technology
(tokenization) launched in 2019 created conditions for global
players entering Azerbaijani market. For example, the Apple Pay
service was launched in the market in 2021, and Google Pay in 2022.
The new method of contactless payment will make a great
contribution to the development of a cashless economy in
'All these years, together with banks, partners and government
agencies, we have been working to develop Azerbaijan's cashless
economy. Visa's strategic goals are to expand the payment ecosystem
in the country, helping to create innovative solutions, and taking
care of cardholders,' Vice President, Regional Manager in Central
Asia and Azerbaijan at Visa Cristina Doros said.
'In recent years, we have seen a significant increase in the
number of contactless payments in Azerbaijan and contribute to
their further development. With the launch of Google Pay, this
trend will only intensify - now you can connect cards to a
Visa-based mobile phone in 10 banks of Azerbaijan,' she added.
Apple Pay and Google Pay functions are available in such
Azerbaijani banks as Kapital Bank, International Bank of
Azerbaijan, Unibank, Bank Respublika, PASHA Bank, Leobank,
RabitaBank, XalqBank, PremiumBank, YeloBank and ExpressBank. Apple
Pay additionally supports AzerTurkBank. One can pay for purchases
not only with a smart phone, but also with a smart watch. Six more
projects are also in the process of implementation.
Contactless payments in transport
One of the new programs for the development of transport
infrastructure was the project of cashless and contactless payment
at all 14 stations of Absheron Ring Railway. In the summer of 2021,
Azerbaijan Railways CJSC, in partnership with Visa and the Central
Bank of Azerbaijan, offered passengers a new, fast, convenient and
secure way to pay for travel, with which tickets can be also
upgraded to business class.
It was noted that passengers can make contactless payment for
travel with Visa payment cards of any bank at 14 stations of the
Baku-Sumgayit commuter train route. The contactless launch on the
Azerbaijan Railways is of strategic importance for the
modernization of the transport infrastructure in the country.
Besides, in October 2022, Visa launched Mobility & Transit
Transaction (MTT) technology for the first time in Azerbaijan. This
technology allows combining payment for travel on public transport
for 24 hours in a single transaction, which is deducted by a single
payment at the end of the day.
It was reported that the service has been launched at all 14
stations of the Baku Ring Route equipped with turnstiles with
contactless payment readers. Passengers can pay the fare not only
by bank cards but also using devices with built-in NFC-module
(phone, watch or payment ring).
The world's first co-branded card of Bank Respublika,
Wolt and Visa
Bank Respublika, in cooperation with the Wolt commercial
platform, introduced new co-branded cards based on the Visa payment
system to the market.
It was reported that the cards offer their holders many
advantages both for online orders and for everyday use of a bank
card. Wolt cardholders will receive exclusive discounts and a
guaranteed cashback of five percent of the order amount in the Wolt
Besides, it was noted that the card has all the benefits of the
Visa payment system and the convenience of banking services from
Bank Respublika, and is provided free of charge and without an
'The most important feature of this card is the result of the
partnership of three large companies, each of which is one of the
leaders in its industry. I would like to thank the Wolt and Visa
teams for the opportunity to introduce the Wolt co-branded card as
the first in the world. We are confident that our partnership
projects will be long-lasting and will create new opportunities for
our clients,' Chairman of the Board of Bank Respublika Tariyel
Besides, it was reported that as part of the campaign, which
will last until January 31, 2023, customers, in addition to
payments for the Wolt service, will also receive one percent
cashback for all payments made with this card.
'We are very pleased that our co-branded card allows us to
provide users with the opportunity to have a positive experience
when shopping from restaurants and shops available in the Wolt
application,' General Manager of Wolt in Azerbaijan Tofig
'With this card, all users will receive five percent cashback in
the form of Wolt credits, which can be used in as a discount on
future orders. Further, we plan to create a loyalty program based
on this card, which will allow us to provide users with new and
profitable offers,' he added.
Launch of QR-payments from E-PUL and Visa in the network
of public services ASAN
In 2022 , E-PUL payment service and Visa
announced the launch of a payment solution in the ASAN [Azerbaijan
Service Assessment Network] public services network based on QR
It was reported that citizens can easily pay for public services
using the E-PUL mobile application at ASAN branches throughout
Azerbaijan. The service is an alternative to bank branches located
in ASAN networks, and allows you to significantly increase the
throughput of the physical queue at public service points.
It was noted that the close strategic collaboration between Visa
and PaySis company, which developed the E-PUL application, makes
the introduction of innovative QR payments a reality and covers a
significant share of acquiring in Azerbaijan.
Mobile POS solution based on VisaTap to Phone technology
together with KapitalBank
This year, Kapital Bank in partnership with Visa announced the
launch of Azerbaijan's first Mobile POS solution based on Visa Tap
to Phone, a technology that turns modern Android smartphones or
tablets with an NFC (Near Field Communication) chip into a
full-fledged payment terminal for accepting contactless
It was reported that it's enough just download the necessary
application so that any business could join the digital economy. As
more and more buyers prefer contactless payment anywhere, the
innovative Mobile POS solution powered by Tap to Phone technology
opens up new, broader opportunities for micro and small
'The Mobile POS service, presented jointly with the State Tax
Service under the Ministry of Economy and Visa, will allow business
entities to accept payments from cards, smart watches, stickers and
other contactless payment instruments using a smartphone without
the participation of a traditional POS terminal,' Tribe Lead at SME
and Corporate Banking, Kapital Bank OJSC Heydar Suleymanov
'Previously, entrepreneurs had to accept non-cash payments,
visit a branch, go through internal banking procedures and install
additional equipment, now they can simply apply online and turn
their smartphone into a POS terminal,' Suleymanov noted.
'The new service was developed by the international IBA Group IT
company and is based on Visa Tap to Phone technology. I'm sure that
Mobile POS will make a significant contribution to the development
of cashless payments in the country,' he also said.
The bank's representative explained that in order to use the
Mobile POS service, one first needs to be a client of Kapital Bank.
The service can be connected to completely free of charge and
without visiting offices by registering online in the Mushtari Bank
Mobile POS allows to accept payments, track transaction history,
and get information about current terminals. Moreover, the service
can be used by Android smart phone with an NFC module, Suleymanov
Pilot launch of digital banking with
In July 2022, Azercell announced the launch of a new project in
collaboration with PASHA Bank, Visa and AzInTelecom.
Subscribers were presented with a special digital card allowing
them to conduct a wide range of financial transactions - to make
cashless payments, replenish the balance on their accounts, and
It was noted that the card can be drawn up both for non-invoice
(SimSim) and postpaid line users without going through additional
procedures usually required when opening a financial account - and
all thanks to the digital solution underlying the new service,
aimed at convenient and fast customer identification.
Besides, it was reported that the subscribers can activate the
card through the updated Kabinetim application without the need to
visit customer Azercell service centers.
Azercell's digital card has marked a new milestone in the
development of the telecommunications market, allowing mobile
subscribers to join the comfortable non-cash payments through the
reliable and convenient Visa payment network.
Release of co-branded card with E-Pul
In October 2022, E-PUL Azerbaijani payment system together with
Unibank announced the joint issuance of virtual Visa cards.
It was reported that these cards called eCards have a lot of
convenient functions: they can be replenished without commissions,
and linked to Apple Pay and Google Pay.
Besides, using the eCards, card-to-card money transfers can be
made, and purchases in foreign online stores can be paid for.
It was also noted that when paying for services in the E-PUL
application through an eCard, bonus points are awarded at a double
rate, and when paying with this card in the EPUL network,
supermarkets, restaurants and gas stations, customers receive three
A digital eCard can be obtained in one click by downloading the
E-PUL application and registering in it. By verifying with digital
identification based on face recognition technologies, one can
increase the maximum balance and annual limit on eCard transactions
and enjoy all of its benefits.
Web catalog of offers from Visa PayCity
It was reported that the Paycity.az website, which contains
profitable offers from Visa partners, has been operating for about
a year, providing cardholders of this payment system with many
benefits. Through the website, one can find bonuses and discounts
from shops, restaurants, entertainment venues, as well as beauty
and health centers. It's enough to open the site, choose the best
offer and make contactless payment via phone with a Visa card at
the specified venue.
It was also noted that the PayCity Affiliate Network is not only
a source of benefits for Visa cardholders but also multiple
benefits for entrepreneurs: by joining it, business owners get
access to a wider customer base and marketing support from a global