Ban for those who do not perform face recognition operations in e-wallets

11:28 - 22.04.2024

April 22, Fineko/ From May 9, the use of e-wallet will be limited for those who are not registered with a PIN code.

ABC.AZ reports that as part of the customer identification and verification procedures, each user must register with a photo and PIN code before the specified date.

Under valid law, as in all financial applications, M10 e-wallets should also be registered with a personal PIN code.

When conducting payment transactions by the payment service, measures to ensure that the client complies with the requirements of the payer and recipient of funds, as well as beneficial owners and other related issues, are carried out in compliance with the requirements of Azerbaijan’s legislation.

Under the new rules, registration is very simple. Users will perform facial recognition by adding a PIN code to their personal data. Detailed information will be sent to the user numbers.