Azerbaijan prepares another innovation – E-wallet


June 11, Fineko/abc.az. Azerpocht LLC, subordinate to the Ministry of Transport, Communications & High Technologies, has started partnership with the International Finance Corporation (IFC), a member of the World Bank Group.

ABC.AZ was informed at Azerpocht LLC that according to the project, IFC together with Azerpocht will work over creation of an electronic wallet that allows for electronic financial transactions.

Collaboration with the IFC will help the organization provide selected financial services as an agent to other financial organizations and educate customers about digital financial services.

This initiative will allow the population and small entrepreneurs who live, in particular, in rural areas, far from bank branches, to make payments without visiting a bank and get digital access to basic banking services.

As a result of the project, the institution will play an important role in ensuring financial inclusion for the majority of the population not covered by banking services.