30 January 2026, Baku: On January 30, Deputy Governor Vusal Khalilov held in-depth discussions via videoconference with Wang Lixin, CEO of UnionPay International, on enhancing card-issuing cooperation and QR code interoperability.

 At the conclusion of the meeting the parties signed a Memorandum of Understanding (MoU) on cooperation.

The agreement will contribute to the establishment of a legal framework for cooperation between the Central Bank and UnionPay and seeks to strengthen institutional ties in the payments sector. Areas of cooperation include the issuance and processing of UnionPay cards, the integration of cross-border money transfer systems, and the deployment of QR-code and token-based payment technologies.

Under the memorandum, the parties plan to advance initiatives to promote cashless payments, enhance the stability, security, and convenience of card services for local users, and introduce new card-based products and financial innovations. The agreement also stipulates the development of technical architecture and operational mechanisms to support Azerbaijan’s broader transition to a cashless economy.

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