BAKU, Azerbaijan, October 12. The Azerbaijani market is of considerable interest to Turkish payment company Ist-Pay, which plans to develop its international money transfer infrastructure in the region, Ist-Pay Business Development Manager Svetlana Mammadova told Trend during B2B meetings held as part of a fintech mission organized by the Turkic States Fintech Alliance (TÜRKFİN) in Baku.
According to Mammadova, the company held meetings with local fintech firms and financial institutions operating in related fields.
“It is very important for us to be here and hold face-to-face meetings with local companies, fintech firms and financial institutions operating in the same field as we do. Whether these meetings lead to further cooperation or remain one-off engagements, we are gaining experience and expanding our network of contacts between our two friendly countries.
During these meetings, the company aims to establish contacts with as many financial institutions as possible to exchange experience and study trends in Azerbaijan’s domestic and international payments markets.
We have focused on financial institutions operating in the same sector as our company. Our goal is not only to develop our business but also to exchange expertise and build a shared ecosystem between the two countries,” she said.
Mammadova also expressed confidence that the meetings could lead to the signing of documents and agreements aimed at strengthening cooperation.
“Azerbaijan is one of the hubs for the development of Türkiye’s international money transfer ecosystem. I believe that the signing of documents and agreements will lead to the creation of new channels, the development of payment infrastructure and the introduction of new payment solutions for local and Turkish customers,” she noted.
According to Mammadova, Ist-Pay is a licensed payment organization in Türkiye. The company primarily specializes in international money transfers, including cash transfers, digital transfers and international payments.
The company is working with international partners to establish channels that enable customers and partners to transfer money between the two countries.
“We believe we can build reliable infrastructure for international money transfers in the region,” Mammadova added.
The Baku Fintech Sector Trade Mission, organized by the Turkic States Fintech Alliance (TÜRKFİN), is bringing together representatives of the financial and fintech sectors of Azerbaijan, Türkiye and Kazakhstan.
The program includes discussions on prospects for developing digital payments across Turkic states, harmonizing approaches to financial technology regulation and exploring emerging technological trends in payment systems.
