BAKU, Azerbaijan, Feb.12
By Sadraddin Aghjayev – Trend:
The countries, where for various reasons non-cash payment systems began to develop late, have filled the gaps by applying QR (Quick Response) codes, because non-cash payment is more convenient and safer than cash payments, Dmitry Satin, founder and CEO of Russian USABILITYLAB LLC, told Trend.
According to Satin, the presence of the services of global corporations (such as Apple Pay, Google Pay and others) in any country usually doesn’t depend on technical resources of a national market.
"Most likely, this is due to the size of the national market. Small country markets are gradually connecting to such services. So, until recently, Apple Pay had been absent in the markets of Ukraine and Belarus, and now it has appeared there," he added.
The CEO noted that Azerbaijan is close to Belarus in terms of the banking sector development, digitalization and innovation.
"The relatively small number of people is holding back the development of consumer services," pointed out Satin.
Besides, in his opinion, the service sector is developing less in the extractive countries, and the banks serving the extractive companies, according to USABILITYLAB observations, are less interested in the development of retail business.
"The rapid development of remote digital services more often occurs in countries that do not have natural resources, but are developing integration projects (such as digital citizenship). Estonia can serve as a striking example of this," he stressed.
USABILITYLAB company, jointly with the Azerbaijan Banks Association, will organize special online meeting on February 18, 2021 at 16:00 (GTM+4).
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