Costs for non-cash payments may be reduced in Azerbaijan

Expansion of the coverage of the Instant Payment System (ISP) of the Central Bank of Azerbaijan and reduction of costs for non-cash payments were discussed, Report informs, citing the Azerbaijan Banks Association (ABA) Public Union.

According to the information, the actions that should be taken by the participants of the ISP were discussed at the next meeting of the IT and IT security Expert Group" under the institution was held.

ABA was founded by commercial banks in 1990. The main goal is to protect the interests of member organizations, to help meet their needs for various types of business services, and to coordinate their activities. Currently, 24 banks and 6 non-bank credit institutions are members of ABA. 14 Expert Groups covering various directions of the banking and financial sector operate under the association.