AzeriCard fully completed work on acquiring the introduction of Visa payWave
Processing Center AzeriCard announces acquiring cards Visa payWave.
Visa payWave technology allows you to pay for goods and services at the box office in a matter of seconds: the holders of Visa payWave cards is enough to bring the card to the terminal, equipped with contactless payment technology admission.
Thanks to technology VISA Pay Wave AzeriCard partner banks to offer new retail and service businesses to accept contactless cards, with which customers can not waste time searching for the right coins and bills, sign the check or enter a PIN.
Pay Wave technology provides many benefits to merchants. It simplifies the payment process allows you to serve customers faster, reduce queues at the sales rooms and business spending on cash transactions, which in turn helps to increase customer loyalty.
In the near future AzeriCard also plans to complete all work on the introduction of contactless cards VISA Pay Wave.-15D--
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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