17:57 - 14.07.2022

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July 14, Fineko/abc.az. The integration of banks into the CBA-developed open banking platform has been completed, ABC.AZ reports, citing Emil Abbasov, the head of the CBA Instant Payment System Provision Department. 

He classified the achievements in the development of the instant payment system as follows:
"Instant payments work in 7/24 regime, unlike a traditional payment system. Payments transferred to the instant payment system are processed directly on customers' bank accounts.
"Abbasov added that work is currently underway on integration of non-bank payment service providers into the system: "In the near future, along with banks, their direct access to payment systems will be ensured."

The rapid development of instant payment systems will increase the level of digital payments. This will create conditions for the rapid provision of liquidity for participants.