MasterCard will assist Azerbaijan in creating road map

During the Eurovision contest in Baku in May 2012, the international credit card payment system MasterCard is ready to assist the Central Bank of Azerbaijan (CBA) in the creating a road map for places where non-cash payments may be used, the regional manager of MasterCard Hakan Acar told journalists on Tuesday.

"Tourists who come to the Eurovision contest will not have serious problems with non-cash transactions. There is no problem with that in the main hotels and supermarkets in the city," Mr Acar said.

He went on to say MasterCard is working with Azerbaijani banks on the implementation of advanced payment solutions and technology that will benefit consumers, retailers and banks in 2012 and beyond.

"We have no problem working with local banks. We are with about 33 banks out of 44 operating in Azerbaijan and next year plan to cover the entire banking sector," Mr Acar said.

He added the market of non-cash payments has great potential in Azerbaijan. "The country's economy is developing dynamically and with little exposure to external risks and the population is young and relatively educated. All this is good ground for the development of non-cash payments."


/Trend/