AzeriCard
| Industry | Financial services |
|---|---|
| Founded | 1996 in Baku, Azerbaijan |
| Headquarters | |
| Services | card processing |
| Parent | International Bank of Azerbaijan |
AzeriCard is an Azerbaijani bank card processing company.[1] The International Bank of Azerbaijan owns 100 percent of AzeriCard.[2]
Products
[edit]Mobile Wallet
[edit]- AzeriCard offers customers what is known as a “mobile wallet." Customers can use their smartphone to pull out cash from ATMs without using an actual bank card during the transaction. The technology is named “Way4 Cash By Code."[3]
- AzeriCard worked with technology company OpenWay to produce the mobile wallet service.[3]
- By 2011, 15 banks in Azerbaijan were using mobile banking technology provided by AzeriCard.[4]
Market share
[edit]- As of 2016 November-end, 35% of plastic cards, 65% of ATMs and 62% of point-of-sale terminals in Azerbaijan are served by AzeriCard.[5]
- Currently, more than twenty banks locally and internationally use the services of AzeriCard.
Competitors
[edit]As of the beginning of 2017, there are two other companies in addition to AzeriCard that provide card processing services: MilliKart and KapitalBank.[6]
History
[edit]
- Issuing bank logo
- EMV chip
- Hologram
- Card number
- Card brand logo
- Expiration date
- Cardholder's name
First bank card
[edit]- In 1997 AzeriCard was credited with creating the very first bank card in the country of Azerbaijan; the card was issued by the International Bank of Azerbaijan.[7]
- AzeriCard’s systems work with MasterCard, Visa, American Express, Diners Club, UnionPay and JCB International.
Ownership
[edit]- AzeriCard is one of several subsidiaries of the International Bank of Azerbaijan. Other subsidiaries are:.[8]
- IBA-Moscow
- International Bank of Azerbaijan-Georgia
- International Insurance Company
- In addition to the International Bank of Azerbaijan, AzeriCard works directly with IBA-Moscow and IBA-Georgia.[2]
Customers
[edit]Banks that use AzeriCard’s services are:[1]
- AGBank
- Amrahbank
- AtaBank
- Bank Respublika
- International Bank of Azerbaijan
- PASHA Bank
- Nikoil Bank
- Ziraat Bank Azerbaijan
- Silk Way Bank
- TuranBank
- Xalq Bank
- AFB Bank
- Azer-Turk Bank
- Bank Avrasiya
- Bank BTB
- NBC Bank
- Caspian Development Bank
- MuganBank
- Rabitabank
- VTB Bank Azerbaijan
- KDB Bank Uzbekistan
See also
[edit]References
[edit]- ^ a b “AzeriCard and OpenWay bring cardless ATM withdrawals to Azerbaijan", Finextra Research website, Printed August 9, 2013 (Retrieved August 20, 2013)
- ^ a b J. Nasibova, “Level of non-cash payments use increases in Azerbaijan", Trend News Agency, November 20, 2012 (Retrieved via Nexis on August 20, 2013)
- ^ a b Elliott Holley, “Azerbaijan mobile wallet makes debut" Archived 2016-03-02 at the Wayback Machine, Banking Technology, August 8, 2013 (Retrieved August 20, 2013)
- ^ N. Ismayilova, “Azerbaijani processing centre to introduce new version of mobile banking", Trend Daily Economic News, November 20, 2012 (Retrieved via Nexis on August 20, 2013)
- ^ H. Valiyev, “BRIEF: Azericard introduces cash transfer service to cards using ATMs," Trend News Agency, December 10, 2012 (Retrieved via Nexis on August 20, 2013)
- ^ A. Hasanov, “Non-cash payments in Azerbaijan to create a breakthrough in card market", Trend Daily Economic News, February 29, 2012 (Retrieved via Nexis on August 20, 2013)
- ^ "First Bank Card in Azerbaijan Marks 15 Years from Date of Issue", Economic News (Information Agency Oreanda), November 14, 2012 (Retrieved via Nexis on August 20, 2013)
- ^ “Audit of MBA trusted to Deloitte & Touche", Turan Information Agency, August 14, 2013 (Retrieved via Nexis on August 20, 2013)
External links
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