MasterCard to introduce new service in Azerbaijan

By the end of this year, one of the commercial banks of Azerbaijan will join the Moneysend service of MasterCard, said Mithat Perkoz, Business Development at Mastercard, Report informs.

He did not disclose the bank's name but said that negotiations are nearing completion.

"Today, a service called 'card-to-card' is used in Azerbaijan. With our new service Moneysend, it will be possible to transfer money in real-time to any MasterCard card abroad," Perkoz said.

He also touched upon the issue of obtaining a loan through MasterCard without going to the bank:

"We have also held talks with several banks in Azerbaijan on this issue. They are interested in this issue. But it is necessary to consider how the legislation allows it and other factors. If commercial banks want, we can provide this service in Azerbaijan."