The Baku population will be provided with greater access to Paypoint machines. While until now there are about 460 payment terminals, by the end of the year the number will increase by 200 units.
The company SilverKey Azerbaijan plans expansion not only of the network of terminals, but also services. Through Paypoint terminals people pay for utility services, fixed and mobile communications, Internet and cable television. In the near future the terminals will download SMART-cards used to pay for the production association Azeriqaz (national carrier of gas). By the end of the year drivers will be able to pay fines for traffic errors through these terminals.
This kind of financial services is not so popular in Azerbaijan, but its benefits are obvious. For the clients it is easy to use short transactions, without standing in queues in the traditional areas of payments. They appreciate the availability of services at any time of the day, the ability to simultaneously perform several different payments, and secure transactions. - 17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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