Azerbaijan ranked first in the CEMA region (Central and Eastern Europe, Middle East, and Africa) that includes almost 90 countries to implement Visa’s B2B Connect solution, Report informs, citing the company.
"But the overall use of payment technologies by businesses in the country is yet to reach the level expected by Visa," the company said.
Global payments processor Visa has announced it supports the Azerbaijani SMEs businesses through their transition towards a cashless era and the use of financial technologies. Currently, two local banks have joined Visa’s new project – Kapital Bank and Expressbank and, with the new launch of Apple Pay in Azerbaijan, the contactless payments sector should be stimulated even further.
Cristina Doros, vice president and regional manager for Central Asia and Azerbaijan at Visa, mentioned that the US-based company continues its cooperation with the country in the field of digital banks and actively works with its financial technology partners to determine SMEs to go cashless. It is expected that 11 more banks in Azerbaijan will join Visa’s initiative and push contactless payments across the country.
Apple Pay is accepted at markets, pharmacies, taxis, restaurants, cafes, retail stores, online platforms, and more.