AzeriCard offers customers what is known as a “mobile wallet." Customers can use their smartphone to pull out cash from ATMs without using an actual bank card during the transaction. The technology is named “Way4 Cash By Code."[3]
AzeriCard worked with technology company OpenWay to produce the mobile wallet service.[3]
By 2011, 15 banks in Azerbaijan were using mobile banking technology provided by AzeriCard.[4]
As of the beginning of 2017, there are two other companies in addition to AzeriCard that provide card processing services: MilliKart and KapitalBank.[6]
In 1997 AzeriCard was credited with creating the very first bank card in the country of Azerbaijan; the card was issued by the International Bank of Azerbaijan.[7]
AzeriCard’s systems work with MasterCard, Visa, American Express, Diners Club, UnionPay and JCB International.
^N. Ismayilova, “Azerbaijani processing centre to introduce new version of mobile banking",Trend Daily Economic News, November 20, 2012 (Retrieved via Nexis on August 20, 2013)
^H. Valiyev, “BRIEF: Azericard introduces cash transfer service to cards using ATMs,"Trend News Agency, December 10, 2012 (Retrieved via Nexis on August 20, 2013)
^A. Hasanov, “Non-cash payments in Azerbaijan to create a breakthrough in card market",Trend Daily Economic News, February 29, 2012 (Retrieved via Nexis on August 20, 2013)
^"First Bank Card in Azerbaijan Marks 15 Years from Date of Issue", Economic News (Information Agency Oreanda), November 14, 2012 (Retrieved via Nexis on August 20, 2013)
^“Audit of MBA trusted to Deloitte & Touche", Turan Information Agency, August 14, 2013 (Retrieved via Nexis on August 20, 2013)
