Baku: New requirements will be set in the legislation regarding ‘card-to-card’ payment transactions, stated President of the Azerbaijan Banks Association (ABA) Zakir Nuriyev during his speech at the 9th Banking Forum.

According to Azeri-Press News Agency, Nuriyev emphasized that the development trend of digital payments made with payment cards should be maintained despite the new legislative requirements. He highlighted the necessity of involving cash settlements in the economy to ensure broader non-cash circulation, thereby sustaining the current development trend.

Nuriyev also noted recent advancements in the sector, particularly the introduction of payment cards and tokenization services for digital payments in public transport. He described this progress as a significant step that will contribute to increasing the share of digital payments in the economy.