Central Bank: Card payment costs reduced in Azerbaijan

Baku. 4 April. REPORT.AZ/ Currently, one of the leading card companies in the world, China Union, is working on the processing of branded cards through Interbank Card Center (ICC).

Report was informed in the Central Bank of Azerbaijan (CBA).

One of the priorities of the CBA is to increase the security and sustainability of the national payment system infrastructure in country and continuous measures are being taken in this area.

In addition, the organization said that with the establishment of the Interbank Card Center (ICC), card payment costs were reduced in Azerbaijan: "Thus, last year, the number of tariffs for some types of operations were reduced.

At the same time, banks are fully paid to the banks for the transmission, clearing and completion of authorization requests carried out by the ICC in order to stimulate non-cash transactions.

Creation of ICC is of great importance in increasing the effectiveness of transactions on payment cards, as well as the flexible arrangement of service fees in line with market requirements, as well as improving the effectiveness of cashless payments.