17:48 - 3.09.2021
September 3, Fineko/abc.az. A special solution for accepting non-cash payments at small-scale retail trade facilities will be offered in Azerbaijan.
ABC.AZ reports that speech is about a mobile application that will turn a mobile device (smartphone) into a fully functional POS terminal.
This solution is intended for small retail facilities which find it unprofitable to buy bank POS terminals.
The source also said that technically the work has been completed, but the implementation of this project is not yet possible due to the lack of legal regulation.
"Currently, work is underway on a new draft law "On payment services and payment systems". After the new law comes into force, the mobile application will be offered in small retail facilities," the source said.
The bill is expected to come into force by the beginning of next year. After the adoption of the law, organizations that provide payment services will be licensed without fail.
