Banks, payment institutions and electronic money institutions may involve payment agents domestically to provide the payment services specified in Articles 3.1.1, 3.1.2 and 3.1.4 of the Law of the Republic of Azerbaijan ‘on Payment Services and Payment Systems’. Additionally, banks and electronic money institutions may involve payment agents domestically to...

Pursuant to Article 48.1 of the Law of the Republic of Azerbaijan ‘on Payment Services and Payment Systems’, payment system operators (except for the Central Bank) may engage in payment services after being licensed. A payment system is a funds transfer system with three or more participants, with formalized and...

Pursuant to Article 48.1 of the Law of the Republic of Azerbaijan ‘on Payment Services and Payment Systems’, payment institutions may engage in payment services after being licensed. A payment institution is a legal entity that provides other payment services in aggregate or separately, except for the issuance of electronic...