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AzeriCard

From Wikipedia, the free encyclopedia
AzeriCard
IndustryFinancial services
Founded1996; 28 years ago (1996) in Baku, Azerbaijan
Headquarters
Servicescard processing
ParentInternational Bank of Azerbaijan

AzeriCard is an Azerbaijani bank card processing company.[1] The International Bank of Azerbaijan owns 100 percent of AzeriCard.[2]

Products

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Mobile Wallet

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  • 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]

Market share

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  • As of 2016 November-end, 35% of plastic cards, 65% of ATMs and 62% of point-of-sale terminals in Azerbaijan are served by AzeriCard.[5]
  • Currently, more than twenty banks locally and internationally use the services of AzeriCard.

Competitors

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As of the beginning of 2017, there are two other companies in addition to AzeriCard that provide card processing services: MilliKart and KapitalBank.[6]

History

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An example of the front of a typical debit card:
  1. Issuing bank logo
  2. EMV chip
  3. Hologram
  4. Card number
  5. Card brand logo
  6. Expiration date
  7. Cardholder's name
An example of the reverse side of a typical debit card:

First bank card

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  • 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.

Ownership

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  • AzeriCard is one of several subsidiaries of the International Bank of Azerbaijan. Other subsidiaries are:.[8]
  • In addition to the International Bank of Azerbaijan, AzeriCard works directly with IBA-Moscow and IBA-Georgia.[2]

Customers

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Banks that use AzeriCard’s services are:[1]

  • AGBank
  • Amrahbank
  • AtaBank
  • Bank Respublika
  • International Bank of Azerbaijan
  • PASHA Bank
  • Nikoil Bank
  • Ziraat Bank Azerbaijan
  • Silk Way Bank
  • TuranBank
  • Xalq Bank
  • AFB Bank
  • Azer-Turk Bank
  • Bank Avrasiya
  • Bank BTB
  • NBC Bank
  • Caspian Development Bank
  • MuganBank
  • Rabitabank
  • VTB Bank Azerbaijan
  • KDB Bank Uzbekistan

See also

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References

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  1. ^ a b “AzeriCard and OpenWay bring cardless ATM withdrawals to Azerbaijan", Finextra Research website, Printed August 9, 2013 (Retrieved August 20, 2013)
  2. ^ a b J. Nasibova, “Level of non-cash payments use increases in Azerbaijan", Trend News Agency, November 20, 2012 (Retrieved via Nexis on August 20, 2013)
  3. ^ a b Elliott Holley, “Azerbaijan mobile wallet makes debut" Archived 2016-03-02 at the Wayback Machine, Banking Technology, August 8, 2013 (Retrieved August 20, 2013)
  4. ^ 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)
  5. ^ 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)
  6. ^ 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)
  7. ^ "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)
  8. ^ “Audit of MBA trusted to Deloitte & Touche", Turan Information Agency, August 14, 2013 (Retrieved via Nexis on August 20, 2013)
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