Azerbaijan to launch instant payment system by end of 2020


July 30, Fineko/abc.az. The instant payment system developed by the Central Bank of Azerbaijan will be fully operational by the end of this year.

ABC.AZ reports that the relevant statement was made by Central Bank’s department head Kamalya Gurbanova at today’s news conference on the change in the discount rate.

"Next month the CBA will present this system to the public in agreement with the selected banks for the pilot project. The system of instant payments will differ from the existing payment systems in the country and will allow operations in regime 7/24/365 between the two parties," she said.