portal started cooperation with “Visa International” portal started cooperation with “Visa International”
30 May

The Center for Analysis of Economic Reforms and Communication (CAERC) and “Visa International” signed the Memorandum of understanding on cooperation. The signed memorandum aims to cooperate in development of digital and cashless payments in Azerbaijan, as well as in improvement of legislation, bringing to Azerbaijan the innovations applied by “Visa International” in other countries, simplification of the “merchant” account opening process for the entrepreneurs who are engaged in online commerce, establishment of the necessary platforms to implement Apple Pay, Samsung Pay and Google Pay payment systems.

The head of portal, Zaur Gardashov stated that the memorandum signed with “Visa International” would contribute to the “State Program on Digital Payment Expansion in the Republic of Azerbaijan in 2018-2020” approved by the Decree of the President Ilham Aliyev. “We are interested in improvement of e-commerce environment promoting the development of digital economy, access to digital payment platforms and finding and implementing business analytics solutions based on Visa data base in Azerbaijan. The Memorandum signed with “Visa International” aims to expand the cashless payments spheres between citizens, business entities and government agencies and as a result, to establish reliable partnership to strengthen the financial resources of the banking sector. We believe that application of the advanced technologies of the company in this field will be useful.”

The representatives of “Visa International” stated that within the framework of the memorandum signed with CAERC, the number of people using electronic banking would increase and the volume of e-commerce would grow.

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