New payment system to be launched in Baku transport
By Sara Israfilbayova
The issuance of new cards for transport payment is expected in early spring. These cards will support the interface of card readers installed in the buses of the capital and Baku Metro.
For convenience of payment for travel in Baku, the number of cards for non-cash settlements for passengers will increase.
Currently, non-cash payment is carried out via BakiKart transport cards for travel in the metro and buses of the BakuBus transport company.
Purchase and loading of cards is available in BakiKart and MilliÖN terminals. Their cost is 2 manats ($1.2).
There is also BakiKart with limited use, the cost of which is 0.2 manats ($0.1), where can be downloaded up to four trips.
BakiKart is a new electronic single payment card designed to meet the demands of passengers following international standards applied in public transport of Baku from August 2015.
The law “On non-cash payments” was adopted in order to strengthen accounting in the financial system, through the development of non-cash payments.
The law envisages a limit for cashing operations. Banks and postal operators will charge a simplified tax (1 percent of the sum) to cash means kept in bank accounts of legal entities and private entrepreneurs.
The Central Bank of Azerbaijan (CBA) and MasterCard have launched Cashless Azerbaijan project, which includes three stages, in February 2017.
The first stage is measuring the country’s cash economy, the second is defining a strategy for non-cash payments, and the third stage is preparing a detailed plan of actions.
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