Azerbaijan’s Central Bank, SWIFT discuss expansion of using innovative payment services

The Central Bank of Azerbaijan (CBA) held discussions within the framework of joint cooperation with SWIFT (the Society for Worldwide Interbank Financial Telecommunication) system in the direction of expanding the sphere of innovative payment services in the country, as well as providing reliable, sustainable and secure payment solutions, the CBA told Trend.

During the meeting, the current state of the country's national payment infrastructure, work on the transition to the ISO20022 international standard and prospects for the development of payment services, current and future SWIFT programs were discussed, as well as the main features of SWIFT solutions, goals and principles of the customer security program.

At the same time, practical discussions were held at the meeting on expanding the coverage of innovative payment services in the country within the framework of cooperation with SWIFT, as well as on providing reliable, sustainable and secure payment solutions.

The CBA noted that in order to create competitive, innovative and affordable financial services in Azerbaijan, the focus will be on the continuous development of cooperation with international organizations and the effective implementation of appropriate measures in this direction.

Source: TREND News Agency