"Legal framework of payment service providers is being formed in Azerbaijan".
Chief executive director of the Financial Markets Supervision Chamber, Ibrahim Alishov said.
The providers of payment services are the fastest reactors for information technology innovations in the Azerbaijani market. For this purpose, developing of draft law "On Payment Services" in order to form legal framework in this field, is a necessary task for us. The project is in the final phase. With the application of the law, the number of payment service providers will increase and application of new electronic money will be carried out. We will witness the creation of new products in this direction, "he said.
report.az