Azexport Portal Began Cooperation with VISA International
A Memorandum of Understanding on cooperation was signed between CAERC and VISA International. The purpose of the memorandum is to support the development of digital and cashless payments in Azerbaijan, including improving legislation, introducing innovations implemented by VISA International in other countries, simplifying the opening of merchant accounts for entrepreneurs engaged in online trade, and developing the necessary platform to enable Apple Pay, Samsung Pay, and Google Pay payment systems.
The Head of the Azexport portal, Zaur Gardashov, stated that the memorandum signed with VISA International will make a significant contribution to the implementation of the State Program on the Expansion of Digital Payments in the Republic of Azerbaijan for 2018 to 2020, approved by an Order of President Ilham Aliyev. He noted that Azexport is interested in improving the electronic commerce environment that drives the development of the digital economy in Azerbaijan, increasing the accessibility of digital payment platforms, and developing and implementing business analytics solutions based on VISAs data infrastructure. According to him, the memorandum aims to establish a reliable partnership to significantly expand the scope of cashless payments among citizens, business entities, and state institutions, thereby strengthening the financial resource base of the banking sector. He emphasized that the application of VISAs advanced technologies in this field is expected to be highly beneficial.
Representatives of VISA International stated that within the framework of the memorandum signed with CAERC, the share of the population using electronic banking services will increase, and the volume of electronic commerce will expand.
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