By Leman Mammadova
E-money and payment systems have gained rapid popularity worldwide in recent years, however many people still continue to use cash as the main way of payment.
With the advent of the Internet, people have been able to not only receive the necessary information, communicate and perform many other useful operations online, but also to pay for purchases and services.
Now, it is not necessary to go to a financial institution in order to transfer money to someone and wait for your turn to approach a bank employee. It is possible to transfer money to someone using an electronic wallet while sitting at home.
E-wallet is essentially an analogue of a bank account that allows the user to store electronic money and make non-cash payments on the Internet. This system is also being developed in Azerbaijan to facilitate people’s access to various services.
New e-wallet PostPay has been launched by Information and Computing Center (ICC) under Ministry of Transport, Communications and High Technologies and Azerpost.
The project was implemented on the basis of a contract signed between the ICC and Azerpost. This will expand the geographic scope of this brand.
In particular, PostPay will be available in all regions and remote locations of Azerbaijan where post offices operate. Moreover, it is expected that cash transactions conducted by Azerpost will also be carried out via PostPay in the near future.
PostPay e-wallet is also available as a mobile application in Play Store for users of devices running on the Android operating system. The main menu of PostPay includes the sections: "Increase balance", "Money transfer", "Payments", "Payment of goods and services (dynamic QR code)" and "Balance".
The main difference between PostPay and other e-wallets is the ability to conduct operations to increase balance and cash out funds in post offices and branches. In order to increase the balance, you must provide the operator at the post office with the number of the PostPay e-wallet. For cash withdrawal, you must provide the number and the required amount.
In addition, the transactions can be made through PostPay to transfer money to another user of the same system or to accounts on other e-wallets, as well as on payment cards, and in the post office - to the desired person using the international money transfer system.
The PostPay users can also use this system to pay for mobile services, utility bills, make customs payments, etc. At the same time, PostPay users will be able to pay for goods and services in stores or on foreign Internet websites through QR code.
Today, e-wallet is an ideal payment tool for those who spend money on the Internet, make online purchases, and for those who earn in it, being a freelancer (copywriter, translator, designer, programmer). With the help of such a wallet, it is possible to make various kinds of calculations using virtual money, which can later be easily converted into real tangible funds and withdrawn either to a bank account or to a plastic card.
Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888
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