Infrastructural capacity of IPS expanded

29-10-2021

28 October 2021, Baku: Efforts continue to expand the infrastructural capacity of the Instant Payments System (IPS) created by the Central Bank to ensure completion of settlements between individuals, businesses and public institutions within seconds 24/7/365.

As part of the related measures the Pasha Bank OJSC, the Muganbank OJSC, the Bank Avrasiya OJSC and the Premium Bank OJSC joined the group of banks that ensure use of the IPS from bank accounts linked to their customers’ payment cards. Thus, the customers of the said banks are now able to register and deregister their bank accounts linked to payment cards based upon the Open banking principles, obtain information on the balance of accounts and make transactions.

To note, currently 20 banks, the Azerpost LLC and the State Treasury Agency under the Ministry of Finance of the Republic of Azerbaijan  have been integrated to the IPS platform. Users can make their operations instantly 24/7/365 using AniPay mobile application (Android: http://bit.ly/3b78WQo and IOS: https://apple.co/3hXL17u), as well as AniPay functionality section of the banks’ Internet and mobile banking services integrated to the system. Efforts continue to expand the coverage of the system, as well as increase the range of digital solutions for users.