E-payments system expands in Azerbaijan

As of the early year, there were 1,100 ATMs and more than 2,000 POS-terminals while only 10% are located in regions.

The electronic payment systems started to emerge because of delivery of pension benefits in the country. International Bank of Azerbaijan is the most active in application of e-payment systems throughout the country. it owns 70% of ATMs and 30% of POS-terminals installed up to now. Besides, it has more than 50 information kiosks.

The International Bank of Azerbaijan is followed by Kapital Bank, bank Standard, Azerdemiryolbank, Technikabank and others for the number of e-payments systems.

Most of the ATMs are Diebold and Siemens Niecsdorff in Azerbaijan. The most popular e-system payment is payment of utilities and mobile phone bills. Some banks have also recently joined payment system for Nar Mobiel (Azerfon), the new GSM operator in Azerbaijan, as suggested by Khalg Bank.

Baku Telephone Communications Unit presented its own payment system for customers.

Other telecom units like Aztelecom, Azerpocht also expand their coverage and increase the quality of payment systems.

Aztelecom plans to reach all regions of Azerbaijan this year. Within the scope of transition to non-cash payment system throughout the country, it is expected to install over 30,000 POS-terminals by 2008.

Conversion to this system will give benefit to both buyers and sellers on Azerbaijan's market, APA reports.