JSC PASHA Bank" first in Azerbaijan introduces reception technology (acquiring) and release (issuing) contactless cards from two leading payment systems - Visa and MasterCard.
As stated in the bank, contactless technologies offer the possibility of using mobile (smartphone-based) payments in all areas of retail. The technology allows to make purchases quickly , easily and securely.
To pay enough to make the card to the terminal at the checkout for a few seconds and wait for confirmation of payment. Technology is widespread in the U.S. and Europe.
This innovation will increase the number of transactions in the POS-terminals, thereby increasing cashless transactions in trade and service enterprises. -15D -
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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