Azerbaijan’s processing centre MilliKart has
begun clearing payments in foreign currencies.
The Central Bank of Azerbaijan and MilliKart
as well as 13 local banks served by the clearing platform signed
the agreement in August.
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MilliKart said in an official announcement
that the clearing of foreign currency by the central bank would
eliminate risks that arise in interbank settlements.
The 13 banks served by MilliKart have issued
170,000 cards between them in Azerbaijan, have a network of 300
ATMs and 2,000 POS terminals.
Azerbaijan is one of five countries with the
highest amount of money transfers in the former Soviet
Unions, the latest country survey on Russia by Cards and
Electronic Payments International found.
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