12:29 - 29.01.2024

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January 29, Fineko/abc.az. The Board of the Central Bank of Azerbaijan has approved the Rules for the organization of work with payment agents,

ABC.AZ reports that CBA chairman Taleh Kazimov stated about this, when signing a new resolution.

According to the decision, payment agents, acting on behalf of the organization, can carry out operations for depositing and withdrawing funds from an internal payment account in cash, credit transfer, direct debit, payment by payment card or other similar payment instruments, money transfer, sale of electronic money and refund of residual value.

In addition, the decision establishes the requirements for attracting an agent and rendering services. So, the agent must have the necessary communication channels to interact with the organization, the appropriate infrastructure, as well as human resources capable of working with this infrastructure.

Through the agent, single database will be created on violations in provision of services, including cases of fraud, and a person responsible for reviewing complaints and resolving disputes relating to services will be appointed.

In addition, the exchange of information between the organization and the agents must be processed and transmitted in real time.

The payment agent is a legal entity that performs payment services on its behalf on the basis of an agreement concluded with a bank, a payment organization or an electronic money organization, or an individual who carries out business activities without forming a legal entity.