(MENAFN- Trend News Agency) BAKU, Azerbaijan, January 2. The Mastercard
global payment system intends to achieve 60 percent digitalization
of payments in Azerbaijan, Mastercard General Director for
Azerbaijan and Türkiye Avsar Gurdal told Trend .
"Our primary objective is to automate the economy. We intend to
expand Azerbaijan's digitalization of personal consumption
expenditures to 60 percent, which is the average in Europe. First,
we want to make card issuing easier by using digital acquisitions
and digital cards. What exactly does this mean? As a consumer, you
will increasingly become a bank customer via digital channels and
have access to digital cards in your wallets. Isn't it a
wonderfully seamless experience? We want to ensure that these types
of value propositions, as well as mobile payments and NFC payments,
continue to evolve in the market. We want to make certain that it
is in the best interests of the consumers. To that end, we are
creating customer value propositions associated with NFC payments,
such as discounts in restaurants, grocery stores, and other
industries, in order to encourage consumers to use their digital
wallets to pay more frequently," he noted.
According to him, Mastercard is expanding its value proposition
for high-net-worth individuals in the market.
"This is another area where we are concentrating our efforts. In
terms of payment acceptance, I can say that we have focused heavily
on e-commerce. E-commerce, like many other rising markets, will
grow faster than the physical market. As a result, to ensure that
e-commerce runs smoothly, we are ensuring that Masterpass, our
global digital payment and card storage infrastructure solution,
evolves further to penetrate retailers and enable seamless
e-commerce card acceptance for customers," Gurdal added.
He noted that for micro-merchants and large corporations, the
company is focusing on cheaper methods of accepting payments, such
as "Tap on Phone".
"'Tap on Phone" enables merchants to accept cards and card
payments via mobile devices. Payment acceptance will rise
considerably faster as more economical alternatives such as 'Tap on
Phone' become available. We also place a strong emphasis on
cross-border remittances and domestic payments. On the transborder
side, we employ our solutions, such as cross-border remittances and
transfers, to send money to cards and accounts, allowing consumers
to send money abroad in less than half an hour with cheap fees and
clear fee information. Furthermore, we intend to use our
'Masterpass' platform for internal card-to-card transfers. We can
send you money without knowing your credit card number if we have
your phone number. Simply enter your phone number into the bank
app. We will invest extensively in this solution since we believe
it will provide an excellent cardholder experience," he said.
"Finally, given data is the new asset, we control almost all
company information. We want to make sure that we are assisting our
partners in making better and more efficient business decisions
based on business data. In a word, we intend to expand our
consulting and data services, dubbed "advisors," into the
Azerbaijani market," Avsar Gurdal concluded.
With over 2.3 billion account holders in 210 countries,
Mastercard is a global technology leader. With a market value of
more than $390 billion, Kantar 2023 rates the corporation among the
top ten most valuable global brands in the world.
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