Two electronic money institutions join the Open Banking ecosystem in Azerbaijan for the first time

01-05-2026

1 May 2026, Baku: One important initiative that the Central Bank has implemented to develop digital financial services is the Open Banking approach. For the first time, two electronic money organizations, Mpay and Goldenpay (Pulz), have joined the ecosystem, which includes a number of commercial banks.

This integration promotes the development of financial technology in the country, expands innovative payment solutions, and makes digital services more accessible to users.

Implementing Open Banking mechanisms allows users to manage various financial accounts on a single platform and access their financial information more conveniently and securely.

This integration also creates new opportunities for electronic money institutions. The Open Banking environment fosters the development of innovative products and services, strengthens collaboration among market participants, and boosts competitiveness.

This initiative increases transparency in financial transactions, expands the digital economy, and increases financial inclusion.

Currently, work is underway to expand the Open Banking ecosystem. Other participants are expected to join in the next stages.