AzeriCard
From Infogalactic: the planetary knowledge core
| Industry | Financial services |
|---|---|
| Headquarters | Azerbaijan |
|
Key people
|
Jahangir Mammadov, Head Business Development Department.[1] Anar Sultanov, Managing Director[2] |
| Services | Credit card processing |
| Parent | International Bank of Azerbaijan |
AzeriCard is an Azerbaijani bank card processing company.[2] The International Bank of Azerbaijan owns 100 percent of AzeriCard.[3]
Contents
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."[4]
- AzeriCard worked with technology company OpenWay to produce the mobile wallet service.[4]
- By 2011, 15 banks in Azerbaijan were using mobile banking technology provided by AzeriCard.[5]
Market reach
- Over 1,500 ATMs and over 30,000 point-of-sale terminals use AzeriCard’s network.[1]
- More than thirty banks internationally use AzeriCard.[6]
Competitors
At the beginning of 2012, there were four other companies in addition to AzeriCard that were providing bank card processing: MilliKart, TexKart, RoyalCard and KapitalBank.[7]
History
An example of the front of a typical debit card:
- Issuing bank logo
- EMV chip
- Hologram
- Card number
- Card brand logo
- Expiration date
- 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.[8]
- According to the company, AzeriCard’s systems service over 2 million bank cards.[6]
- AzeriCard’s systems work with MasterCard, Visa, American Express, and Diners Club.[6]
Ownership
- AzeriCard is one of several subsidiaries of the International Bank of Azerbaijan. Other subsidiaries are:.[9]
- IBA-Moscow
- International Bank of Azerbaijan-Georgia
- International Insurance Company
- In addition to the International Bank of Azerbaijan, AzeriCard works directly with IBA-Moscow and International Bank of Azerbaijan-Georgia.[3]
Customers
Banks that use AzeriCards’ services are:[2]
- AGBank
- Amrahbank
- ATA Bank
- Bank Respublika
- International Bank of Azerbaijan
- Bank Technique
- Nikoil
- Parabank
- Silk Way Bank
- TuranBank
- Xalq Bank
- Rabitabank
The Royal Bank of Scotland Uzbekistan is also a partner with AzeriCard.[3]
See also
References
- ↑ 1.0 1.1 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)
- ↑ 2.0 2.1 2.2 “AzeriCard and OpenWay bring cardless ATM withdrawals to Azerbaijan", Finextra Research website, Printed August 9, 2013 (Retrieved August 20, 2013)
- ↑ 3.0 3.1 3.2 J. Nasibova, “Level of non-cash payments use increases in Azerbaijan", Trend News Agency, November 20, 2012 (Retrieved via Nexis on August 20, 2013)
- ↑ 4.0 4.1 Elliott Holley, “Azerbaijan mobile wallet makes debut", Banking Technology, August 8, 2013 (Retrieved August 20, 2013)
- ↑ 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)
- ↑ 6.0 6.1 6.2 “About Us", AzeriCard website (Retrieved August 20, 2013)
- ↑ 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)
- ↑ "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)
- ↑ “Audit of MBA trusted to Deloitte & Touche", Turan Information Agency, August 14, 2013 (Retrieved via Nexis on August 20, 2013)
