BAKU, Azerbaijan, June 14. Visa is ready to support the development of cashless payments in transportation in Azerbaijan, senior director and regional manager of Visa in Azerbaijan Nurlan Hajiyev told Trend.
"We have already implemented a transport project in the country together with Azerbaijan Railways, the International Bank of Azerbaijan, and the Central Bank: we launched contactless payments on the Absheron Ring Railway, on the Baku-Sumgayit route, which includes 14 stations. At each of them, passengers can pay the fare by payment card, as well as by phone, watch, and payment ring," Visa's regional manager shared.
According to Nurlan Hajiyev, this project has become one of the most successful examples of the introduction of cashless payments, which is being followed by other countries.
"For the first time in the region of Southeast Europe, CIS, Ukraine, and Georgia, we have implemented a Mobility and Transit Transaction (MTT) system. To date, this is the most advanced payment solution in the transportation sector. I would like to note that globally, such cities as London and Vancouver are leading in this direction, and we are happy to introduce similar technologies in Azerbaijan as well," the senior director said.
Hajiyev also emphasized that transportation projects require the combination and integration of various elements of the ecosystem, and Visa is open to cooperation with all market players and is pleased to continue to share experiences and achievements in this area.
To note, Visa (NYSE: V) is a 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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