BAKU, Azerbaijan, April 4. Against the backdrop of a growing trend towards cashless payments, the transport ecosystem will be ready for contactless payments in the shortest possible time, the expert of the Azerbaijan’s Banks Association Musa Jumayev told Trend.
Currently, card reader validators installed in subway and buses are integrated with BakuKart, he noted.
"Integration of non-cash payments into validators is carried out using EMV Contactless technology using bank cards that support contactless technology in the developed countries of the world. It is possible to pay with a card of any bank that has the possibility of contactless payment in validators, which allows the user not to buy an additional card. The ecosystem, which will include, in addition to plastic cards, equipment supporting NFC technology - smartphone, smart watch etc., will allow for real-time payments," Jumayev said.
The main initiative here belongs to the state, since most of the institutions operating in the public transport sector are state-owned, he noted.
"Banks will soon be able to integrate into these services if the ecosystem of payments in transport is brought to a level that meets the world standards of contactless payments," Jumayev said.
