AzeriCard
IndustryFinancial services
Founded1996 (1996) in Baku, Azerbaijan
Headquarters
Azerbaijan
Servicescard processing
ParentInternational Bank of Azerbaijan

AzeriCard is an Azerbaijani bank card processing company.[1] The International Bank of Azerbaijan owns 100 percent of AzeriCard.[2]

Products

Mobile Wallet

  • 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

  • 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

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

An example of the front of a typical debit card:
  1. Issuing bank logo
  2. EMV chip
  3. Hologram
  4. Card number
  5. Card brand logo
  6. Expiration date
  7. Cardholder's name
An example of the reverse side of a typical debit card:

First bank card

  • 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

  • AzeriCard is one of several subsidiaries of the International Bank of Azerbaijan. Other subsidiaries are:.[8]
  • In addition to the International Bank of Azerbaijan, AzeriCard works directly with IBA-Moscow and IBA-Georgia.[2]

Customers

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

References

  1. 1 2 “AzeriCard and OpenWay bring cardless ATM withdrawals to Azerbaijan", Finextra Research website, Printed August 9, 2013 (Retrieved August 20, 2013)
  2. 1 2 J. Nasibova, “Level of non-cash payments use increases in Azerbaijan", Trend News Agency, November 20, 2012 (Retrieved via Nexis on August 20, 2013)
  3. 1 2 Elliott Holley, “Azerbaijan mobile wallet makes debut" Archived 2016-03-02 at the Wayback Machine, Banking Technology, August 8, 2013 (Retrieved August 20, 2013)
  4. ↑ 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)
  5. ↑ 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)
  6. ↑ 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)
  7. ↑ "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)
  8. ↑ “Audit of MBA trusted to Deloitte & Touche", Turan Information Agency, August 14, 2013 (Retrieved via Nexis on August 20, 2013)
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.