BAKU, Azerbaijan, April 19. Visa's innovations and solutions not only help to the development of financial inclusion in Azerbaijan, but also provide new opportunities for the development of small enterprises and improve users' quality of life, Senior Director, Head of Visa Direct in Ukraine, Georgia, CIS, and Southeast Europe Sanjar Suleymanov told Trend in an exclusive interview.
He cited two Visa Direct products as key breakthroughs that are helping to expand access to financial services.
"The first big step was the launch of a service that allows users to attach any card to their phone number, regardless of payment system. This service makes the transaction process more understandable and accessible to all parts of the population, including young people and the elderly, who may find other financial instruments too complicated. Another product that promotes financial inclusion is Visa's Direct Request to Pay technology, which is a request-to-pay service. This function not only streamlines transfers between individuals, such as for general-purpose fundraising, but it also creates new options for small enterprises. This tool allows enterprises to simply request payment for goods and services, substantially simplifying mutual settlements and increasing the security of financial transactions", Suleymanov said.
Senior Director and Head of Visa Direct also emphasized that the key to the success of these products lies not only in the efficiency of the technologies themselves, but also in payment literacy and user awareness of these services' capabilities, as well as collaboration with partner banks for their integration.
To note, Visa (NYSE: V) is the global leader in the digital payments industry. Visa processes payment transactions between consumers, businesses, and financial and government institutions in more than 200 countries and territories. Visa's mission is to unite the world through an innovative, convenient, reliable, and secure payment network to promote consumer well-being and business and economic prosperity.
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