Azerbaijan, Baku, 22 May /Trend, E. Aliyev /
The MilliKart processing center plans to increase the number of serviced payment cards to 500,000 units by the end of 2013, the processing center's executive director Jalal Orujov told Trend following the presentation of the new brand and website of the Millikart Group.
"This will happen due to the growth of current as well as the attraction of new customers. Basically, it refers to credit cards, as this market is growing faster than the debit card market, which is already quite saturated," Orujov said.
According to him, the center plans the tariff schedule so that the larger the bank becomes, the less expensive the service becomes.
"We understand that the opening of new processing centers is a blow to our core business, and in accordance with this, try to keep prices at an attractive level for our customers. MilliKart tries to work in such a way, so that the banks focus on their core business - working with customers, issuance of credit cards for sale and deposits. We are ready to take over part of the IT-related work. Our processing center is committed to ensuring the bank has "forgotten" about the technical part of the work and is developing. In turn, we are ready to provide any assistance in this development, as well as the introduction of new technologies and products," Orujov said.
Speaking about the prospects of the center's development, he noted that all proposed new services and solutions presented today are aimed at attracting new banks.
"The process of finding new partners is constantly ongoing. We have started to work with non-bank credit institutions, insurance companies. MilliKart is trying to diversify its business to avoid focusing on the banking sector only. Existing infrastructure allows us to do that. The thing is that this business is quite conservative, and the companies are often unaware of how to use our facilities, as well as what they can get out of it. We work in this direction as well," Orujov said.
MilliKart LLC was established on July 14, 2006 by 18 banks with a capital of four million manat. In 2010, MilliKart's share capital was increased to five million manat, and the European Bank for Reconstruction and Development (EBRD) became the nineteenth bank to join the organization. EBRD increased MilliKart's share capital by 500,000 manat, receiving a 10 percent interest in LLC.
To date, MilliKart serves 15 banks, which have installed over 380 ATMs and more than 6,000 POS-terminals and issued over 250,000 cards.
