International Bank of Azerbaijan (IBA) in conjunction with the processing center AzeriCard completed the draft order of virtual cards in real-time via SMS.
The service allows anyone, without having to download any applications, order a card in one of the three available currencies (AZN, USD, and EUR) via SMS. SMS with the details of cards will be sent to the mobile number from which the command is sent on request. The cards can be used to pay for e-services and products exclusively online, on any site, both in Azerbaijan and abroad.
To comply with transaction security on sites supporting Verified by VISA and MasterCard SecureCode is used modern method of dynamic authentication using one-time passwords. Passwords will be sent by SMS before every transaction. Not confirmed by a password transaction was denied authorization. Update your account of this card is possible with services such as "Cash to any Card" (transfer of cash without a card with more than 60 ATMs to receive cash) or transferred to any card through services such as "Card Transfer", "VISA Personal Payment" and "MasterCard Money Send ".
Currently, negotiations are underway with all mobile operators in the country to introduce this service, as well as provide an opportunity to top up card with a balance of the mobile number. -15D -
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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