Azerbaijan invites international payment systems

The Central Bank of Azerbaijan (CBA) encourages international payment organizations to enter the country's fintech market, CBA Director General Farid Osmanov said in an exclusive interview with Report.

Osmanov added that the entry of these fintech companies into the market depends on their own business interests.

According to him, there are no restrictions in the current legislation for foreign payment systems or payment organizations to enter the Azerbaijani market: "They can freely enter the fintech market of Azerbaijan. The Central Bank encourages and invites innovative organizations to our country. This led to the appearance of Apple Pay in the Azerbaijani market last year and Google Pay this year."

The Apple Pay service was launched in Azerbaijan on November 2, 2021, and Google Pay entered the Azerbaijani market on August 23, 2022.