Azerbaijan, Baku, May 28 / corr Trend I.Khalilova /
The international payment system Visa is holding researches to reveal problems with cashless payments in Azerbaijan, Visa regional manager for CIS Alexander Kalita said in Baku.
"Nilson is involved in researches and we will discuss the results with our partners from the Central Bank of Azerbaijan," Kalita said.
Developing the cashless settlements in Azerbaijan requires tackling several issues related to retail taxation, POS-terminal registration and financial literacy.
"We have a very good dialogue with the Central Bank and are holding consultations over development of cashless settlements in the country," Kalita noted.
Alim Guliyev, first deputy chairman of the CBA Managing Board, said in accordance with Azerbaijani President Ilham Aliyev's instructions, a set of measures has been developed in the country in connection with cashless settlements.
"The CBA jointly with the Taxes Ministry has designed a package of proposals, which envisage applying tax privileges and holidays каникул," Guliyev noted.
The new State Program on electronic payment system development in 2011-2015 has been developed. In accordance with the requirements of the state program, new legislation is under development. This legislation will authorize the CBA regulate the activities of foreign providers of banks and payment systems.
"The CBA regulates only banks now," Guliyev added. "We have created an infrastructure and public utilities payment KOMIS, which enable every subscriber to pay in any nearby bank, post office, or via internet or plastic cards."
Over 4 million plastic cards have been issued in the country, over 2,000 cash vending machines and 8,000 POS-terminals have been installed.