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Monday, June 18, 2018

Azerbaijan's central bank issues Visa Pay Wave cards to boost non-cash payments

The International Bank of Azerbaijan (IBA) recently began issuing Visa's Pay Wave cards.

The cards, which operate on touch-free technologies and provide maximum levels of protection, can be used for transactions valued up to $25 in trade-service network without inputting a card's PIN code.

"[The] start of issue and reception of such cards will help to increase the volume of non-cash payments in the country," the IBA said. "Special terminals for such cards have already been installed at 70 commercial facilities in the country."

The bank's network of touch-free POS terminals will expand in the near future.

Additionally, IBA has also worked with MasterCard's similar payment technology.