Nationals of Iran and Azerbaijan will be able to use their bank cards in the two countries’ territories once Iranian banks connect to the national card payments network created by Azerbaijan’s Central Bank.
“Since Iran has not yet connected to any international payment system (Visa or MasterCard), the integration of the two countries’ card systems can happen only by connecting the Iranian banks to Azerbaijan’s national network of card payments”, MilliKart, Azerbaijani processing center, reported.
Speaking about the possibilities for Azerbaijani nationals to use their bank cards in Iran, the processing center said that if Tehran connected to the national network of card payments, this problem would be solved automatically.
“Once Iranian banks start operating within the national network of card payments, it will be possible to use Azerbaijani bank cards in Iran”, said MilliKart.
During Iranian President Hassan Rouhani’s trip to Azerbaijan, a meeting was held between heads of central banks of Iran and Azerbaijan, Valiollah Seif and Elman Rustamov. The sides also signed a memorandum of understanding after the meeting.
The memorandum envisages the integration of the two countries’ card systems, or in other words, it will be possible for both countries’ citizens to use their cards in the two countries’ territories. (Trend/Business World Magazine)