Central Bank launches campaign to boost contactless payments

11 June 2020 18:01 (UTC+04:00)

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VISA international payment transaction platform launched a cashback campaign with the Central Bank of Azerbaijan aimed at promoting the contactless payments in Azerbaijan during the pandemic, Trend reports referring to VISA.

In accordance with the terms of the campaign, Visa card holders of the International Bank of Azerbaijan, Kapital Bank and Bank Respublika must make at least 10 contactless payments of no less than five manat each ($2.9) within one month to receive cashback up to 25 manat ($14.7).

The campaign will be held until August 10, and cashback will be received in two stages.

"Today, three banks in Azerbaijan, namely, the International Bank of Azerbaijan, Kapital Bank and Bank Respublika have launched their own mobile wallets, six more banks are implementing the process,” Visa Regional Manager for the Caucasus region Cristina Doros said. “These solutions work thanks to Visa Token Service - a technology that ensures a safe environment for the development of innovations in e-commerce and mobile payments."

Visa first launched this technology in Azerbaijan at the end of 2019, thereby offering the banks the technical opportunity to develop mobile contactless wallets.

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