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Azerbaijani bank expands payment kiosk network

April 24, 2020

Azer Turk Bank, the Azerbaijani state owned bank, has purchased a TransLink.iQ solution for EFTPOS network monitoring and managing developed by Ashburn International, according to a press release. The company also provided the bank the country's first Ingenico payment terminals.

The software solution allows accepting payment by credit cards of both local and international payment systems. Automation of downloading and exchanging security keys, which the TransLink.iQ system uses, can simplify the process of installing terminals. TransLink.iQ provides the ability to connect EFTPOS terminals of different manufacturers.

"Over the past five years, the volume of non-cash transactions with payment cards in Azerbaijan has increased by five times, and the number of cards reached 7.5 million. TransLink.iQ system meets our expectations in terms of business development," Namid Abdulov, head of the bank's plastic card department, said in the press release.

According to the Central Bank of Azerbaijan, the number of EFTPOS terminals reached 65,200 units, a 35% increase, in 2019. The volume of non-cash payments on all payment cards increased by 57% percent, while electronic trading operations rose by 93%.