15:55 - 9.06.2026

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June 9, Fineko/abc.az. Cross-border payment platforms reduce the cost of services.

ABC.AZ informs that Zakir Nuriyev, the chairman of the Association of Banks of Azerbaijan, made this statement at the X International Finance & Banking Summit held in Baku.

According to Nuriyev, Georgia has already joined the process in this direction and is expanding the possibilities of mutual use of existing platforms for development of cross-border trade:

"For example, Georgia has introduced Turkey’s system Troy. This, in turn, allows further reducing the cost of services by using the capabilities of expanding platforms. At the same time, development of an instant payment system within the country and expansion of QR payments remain a priority at the initial stage."

Nuriyev noted that measures to reduce interchange costs also made an important contribution to this process: "As a result, business entities are provided with higher quality services and at more affordable prices."

By Elmir Muradov