News

New mobile payment system to appear in Azerbaijan

Monday 4 January 2016 13:51 CET | News

A new mobile payment system will be presented in Azerbaijan in February 2016.

The new mobile payment system AzerPay to be tested in January is expected to offer contactless and remote payment, money transfers, applying for loan, operations in POS terminals, recharge of account, payment of utility services.

Entrepreneurs will also benefit the new system, as soon it will be possible to register Individual Taxpayer Identification Number to use mobile phones as a means of accepting payments. AzerPay will take on the duties of personal accountant, allowing to receive payments related to commercial activity, and automatically pay taxes.

The system will enter the CIS market until the end of 2017, while since the start of the project, users will be able to use the services while being in roaming. This will allow to pay for municipal services, mobile communication, or pay off credit and transfer funds without any losses, as the technology developed by AzerPay does not require the use of internet connection or software applications. Users will get access to their account via any mobile phone, regardless of the operating system.

Levels of security include user’s number of mobile operator, the subscriber code, PIN code, as well as combined methods of data exchange needed to authorize any operation. 


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: AzerPay, mobile payments, POS, contactless payments, Azerbaijan
Categories: Payments & Commerce | Mobile Payments
Countries: World
This article is part of category

Payments & Commerce