Central Bank and Visa start ‘Pay with Visa Mobile’ campaign to promote mobile payments

11-06-2020

11 June 2020, Baku: The Central Bank and Visa Inc. kicked-off the ‘Pay with Visa Mobile’ campaign after successful start of the ‘Visa Token Service – VTS’ across the country as part of implementation of the ‘State Program on expansion of digital payments in the Republic of Azerbaijan in 2018-2020’ approved by Decree# 508 of the President of the Republic of Azerbaijan dated 26 September 2018.

A two-month ‘Pay with Visa Mobile’ campaign targets development of contactless mobile payments among consumers and increase of the number of tokenized transactions. Participation in the campaign is currently open for all Visa card users who pay with mobile banking applications using bank cards issued by three certified banks – the International Bank of Azerbaijan OJSC, the Kapital Bank OJSC and the Bank Respublika OJSC.

Terms and conditions of the campaign are very simple; Visa card users should make at least 10 transactions AZN5 worth each within a month by means of mobile application of relevant banks. Consequently, all Visa card users who meet the terms of the campaign will have AZN25 refunded to their accounts. The first month of the campaign will cover 10 June-10 July, while the second 11 July-10 August.

Note that, the Visa Token Service (VTS) – is a new technology that provides safe environment for development of cashless payments and mobile commerce. In 2019-2020 Visa commissioned a Visa Token Service program in cooperation with the Central Bank, the Kapital Bank OJSC, and the Bank Respublika OJSC for the first time. It is now possible to make the above payments (VTS) with a mobile phone through any POS-terminal that accepts contactless payments.