JSC Rabita Bank together with the international payment system MasterCard has started the production of Pay Pass cards, the bank said.
The bank customers through contactless cards MasterCard Debit Contactless can pay for purchases and services. Customers can enter their cards into a POS terminal or approach the card to the payment device in a contactless way.
However, according to the rules of the Central Bank of Azerbaijan, the maximum payment limit for contactless system is set in the amount of 20 manats. This type of payment is intended for fast-food, restaurants and shops. ----71D
Economics
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The INMerge Innovation Summit, organized by PASHA Holding, continued in Baku on Friday. The summit brought together leading industry leaders, startups, and investors in the fields of fintech, e-commerce, artificial intelligence, and digital business.
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The Cabinet of Ministers of the Republic of Azerbaijan has approved a new regulation titled “Procedure for the Transfer of Regulatory Functions and Duties for Flight Safety Supervision,” aligning with the country’s obligations under international civil aviation agreements.
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In September 2024, Azerbaijan experienced a noticeable increase in the Consumer Price Index (CPI), reflecting broader economic trends and the impact of various factors on the market. The CPI, a critical indicator of inflation, rose by 3.5% compared to the same month in 2023. This growth was driven by several components, including food and non-food products, as well as paid services provided to the population.
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The shareholders of JSC "Saba" (Səba) have scheduled an extraordinary general meeting for October 28 at 15:00, where the main agenda item will be the liquidation of the joint-stock company and the formation of a liquidation commission, according to company announcements.
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