ABA chair: Mastercard and Visa card fees should be reduced

15:38 - 9.06.2026

June 9, Fineko/abc.az. The fees for Mastercard and Visa payment cards should be lowered.

ABC.AZ reports that Zakir Nuriyev, the chairman of the Association of Banks of Azerbaijan, said this at the X International Finance and Banking Summit held in Baku.

He believes that reducing prices for these services due to the fees imposed by Mastercard and Visa is quite logical and necessary: "In parallel, as we have already noted, we will continue to work on faster development of our own QR code system and expand the scope of application. Our goal is not only to expect lower tariffs from these organizations, but also to reduce the overall cost of services by implementing local standards and existing capabilities."

By Elmir Muradov