Visa holds Digital Payments Workshop at Central Bank

14-03-2024

14 March 2024, Baku: The Visa management team arranged a digital payments workshop for the staff of the Central Bank of Azerbaijan.  

The workshop covered the topics of local payment infrastructure evolution, open banking, real-time money movement, tokenization, e-commerce, digital currencies, and other critical topics.

During the event, an actions plan related to the modernization of the national payment system and introduction of innovative payment solutions as part of the ‘Financial Sector Development Strategy 2024-2026’ was also discussed.

“The Central Bank of Azerbaijan is open to cooperation with key global players in the financial ecosystem to develop electronic payments in the country. This workshop became an efficient platform to discuss the development of the financial technologies’ ecosystem in Azerbaijan with Visa’s leading experts. I am confident that their profound insights will be instrumental in our further cooperation for the benefit of the Azerbaijani payment landscape,” shared Farid Osmanov, Executive Director of the Central Bank of the Republic of Azerbaijan.

“Azerbaijan is a strategically important market for Visa and one of the region’s leaders in digital payments, and Visa remains a long-standing and reliable partner of its government, banking system, and businesses. This workshop signifies that our vision of a prosperous, inclusive, and digital economy in Azerbaijan is aligned with Azerbaijan strategy of economic development,” commented Nurlan Hajiyev, Visa Senior Director, Regional Manager for Azerbaijan.

Additionally, the event participants exchanged views on future cooperation opportunities between two institutions and  prospects for the development of the payments environment.