8 May 2026, Baku: The Central Bank held an event dedicated to the digital transformation and development prospects of the payment ecosystem. Representatives of banks and fintech organizations participated in the event.

During the event, the main topics of discussion included expanding the use of digital payment instruments, developing the Instant Payment System (IPS), AZQR payments, Open Banking solutions, and new opportunities for banks and fintechs. Presentations were given on current approaches, upcoming challenges, and development prospects in these areas.

During the presentations, the impact of QR and IPS payments on consumer payment behavior and the importance of strengthening cooperation between market participants and forming common standards were emphasized. Overall, the event was evaluated as an important platform for promoting innovations in the payment ecosystem and determining future development directions.

A panel discussion followed the event, featuring representatives from the Central Bank, the Azerbaijan Banks Association (ABA), and the Azerbaijan Fintech Association (AzFina), along with participants from the banking and fintech sectors. The panelists exchanged views on developing digital payment solutions, applying innovative approaches, and opportunities for cooperation among market participants. They also discussed future strategic directions.

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