MasterCard country manager in Azerbaijan Hakan Acar said, “This card allows to rapidly pay for goods, work, services in the retail and service businesses,” he said. “It is enough to apply PayPass card to the contactless reader at the cash desk or the terminal and the purchase will be paid. This technology can be used at any place having MasterCard PayPas logo.”
The technology is = used in 48 countries and will be new to the Azerbaijani market when it is introduced in the first half of 2013.
As the demand for immediate payments implementation grows in the United States, Iliad Solutions have identified one of the largest risks to face the payments industry over the next few years.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.