Rashad Orujov: Interchange tariffs reduced by 36% in Azerbaijan

According to amendments to the law “On the Central Bank of Azerbaijan (CBA)”, the CBA received the right to determine the upper limit of tariffs for transactions between participants in the payment system, First Deputy Chairman of the CBA Rashad Orujov said at today’s meeting of the Parliamentary Committee on Economic Policy, Industry and Entrepreneurship, Report informs.

“Taking advantage of this right, the Central Bank set the upper and average limit of interchange tariffs on October 25. On average, this threshold was reduced by 36%, in particular, for non-cash payments in grocery stores and pharmacies by 33%, at filling stations by 55%,” he added.