Electronic money and payment organizations get licenses in Azerbaijan for first time

Following the decision of the Board of the Central Bank of Azerbaijan (CBA) dated May 16, 2024, A-Solutions LLC and United Payment LLC are granted the right to operate as an electronic money organization, Report informs, citing the bank.

Meanwhile, Token Azerbaijan LLC received a license to operate as a payment organization.

According to the bank, the licenses were issued under the law On Payment Services and Payment Systems.

Other organizations that have applied for a license are currently being evaluated.