Azerbaijan to launch system Instant Payments this year


February 12, Fineko/abc.az. New system Instant Payments is to be launched in Azerbaijan and operate in regime 7/24/365.

ABC.AZ reports that the above-mentioned statement was made by Central Bank’s general director Farid Osmanov at the current Baku forum Visa Cashless.

According to Osmanov, the first stage of the project will be completed in the 1st half of the year and the entire project at the end of 2020.

"The system will ensure processing and delivery of payments to facilities within 5-10 seconds in 24/7 regime," Osmanov said.