BAKU, Azerbaijan, June 9. MasterCard, in cooperation with the Central Bank of Azerbaijan (CBA) and other Azerbaijani banks, seeks to expand access to finance for Small and medium-sized enterprises (SMEs) through technological solutions, innovation and various financial instruments, MasterCard's representation in Azerbaijan told Trend.
According to the representative office, MasterCard, in partnership with banks, is also working on development in the sphere of information security and artificial intelligence.
"We will continue to negotiate with Azerbaijani banks to increase the volume of non-cash payments in the country, also exchange experience on latest technological trends," MasterCard said.
Representation added that MasterCard expanded its strategic partnership by signing a five-year partnership agreement with CBA, due to the fact that the state program to expand digital payments in Azerbaijan was provided for the period from 2018 through 2020.
"This document provides for cooperation on non-cash payments and implementation of digital transformation projects. Additionally, MasterCard continues to develop the ‘Smart Student Card’ project," MasterCard noted.
"This card is providing access to the university, it allows students to make any non-cash payments within and outside the country," MasterCard added.
