BAKU, Azerbaijan, June 9. Click to Pay and Passkey will be the next stage in the development of digital payments in Azerbaijan, Senior Director, Regional Manager of Visa in Azerbaijan, Nurlan Hajiyev, said at the International Finance and Banking Summit taking place in Baku, Trend's correspondent reports.
According to him, Click to Pay technology, based on the EMV standard, enables card data storage and one-touch transactions and has already become a global trend, spanning not just individual countries but the entire world.
He noted that approximately 10 Azerbaijani banks have successfully completed the issuing phase of this technology.
"The next stage of development, as noted, will be the introduction of passkey technologies, which allow for payment confirmation using biometric authentication, including fingerprints and facial recognition.
E-commerce is seeing an increase in the use of tokenized transactions. Over the past 12 months, Azerbaijani cardholders have increased the number of cross-border transactions by approximately 1.5 times, and domestic transactions by almost 2.5 times," he said.
Hajiyev also noted that the development of Click to Pay and passkey is linked to the emergence of a new stage of digital commerce, including the transition to an agent-centric commerce model.
According to him, research shows that 58% of users are willing to delegate price comparisons to agents, 55% are willing to search for special offers, and 38% are willing to handle the entire shopping process.
