Baku: Vusal Khalilov, Deputy Governor of the Central Bank of Azerbaijan (CBA), participated in a videoconference meeting with Wang Lixin, Chief Business Development Officer of UnionPay International. The meeting focused on expanding cooperation in payment card issuance and strengthening the interoperability of QR code technologies. The session concluded with the signing of a Memorandum of Understanding on cooperation.

According to Azerbaijan State News Agency, the Memorandum is designed to create a legal framework for collaboration between the Central Bank and UnionPay International. It aims to foster ties and improve interaction in areas such as the issuance and processing of UnionPay cards, integration of cross-border money transfer systems, and the application of QR code and token technologies.