Leading Azerbaijani bank reduces payment card fees during COVID-19 pandemic

By  Trend

Kapital Bank, a leading Azerbaijani bank, has reduced POS-terminal fees in order to provide support to entrepreneurs and reduce expenses of economic entities for banking services during the COVID-19 pandemic, Trend reports referring to the bank’s press office.

As reported, the grace period will expire on September 30, 2020.

According to its terms, a discount of up to 50 percent of the currently imposed fee is applied in the e-commerce segment and POS-terminals of the bank, both for cards owned by Kapital Bank, and for cards of other banks.

The bank noted that this step is intended to show that the bank always supports entrepreneurs and attaches great importance to the development and financing of small and medium enterprises, providing optimal conditions and favorable tariff packages regardless of the situation.

Earlier, Kapital Bank, in accordance with the corporate social responsibility strategy, contributed 500,000 manat ($294,120) to the Fund to Support Fight against Coronavirus (COVID-19).

The Bank became the winner of the Central Bank of Azerbaijan’s annual award in the nomination ‘Leading Bank for Mobile Banking Services’ in 2019.