BAKU, Azerbaijan, December 18. A total of 15 electronic money organizations have been granted licenses in Azerbaijan, a source told Trend.
"The number of payment organizations that have received licenses in our country is eight. In comparison with other countries, the number of licensed electronic money organizations in Türkiye is 57, while the number of payment organizations is 26. In Lithuania, these numbers are 87 and 54, respectively. In Georgia, 18 electronic money organizations have been licensed, and the number of licensed payment organizations in that country is 14," the source said.
To note, according to Article 48.1 of the law on "Payment services and payment systems," an electronic money organization can carry out its activities in the field of payment services after obtaining a license.
An electronic money organization is a legal entity that, based on the license obtained in accordance with the law, issues electronic money and performs payment transactions related to electronic money, and also has the right to provide other payment services if this is stipulated by the license.