IT Park has formalized a collaboration with Azericard, the leading processing center in Azerbaijan. The IT park's press service announced this strategic partnership, focusing on the cooperative development of startups in both Uzbekistan and Azerbaijan.
Deputy Director of IT Park, Fayzulla Aripzhanov, and Azericard Director, Farid Guliyev, convened last week on the sidelines of the TezOde forum in Baku on November 24 to explore opportunities for interaction and the joint execution of projects.
The outcome of these discussions culminated in the signing of a memorandum of cooperation. This agreement outlines plans for joint initiatives in building ecosystems to foster startups and venture investments in both Uzbekistan and Azerbaijan.
Azericard is actively implementing modern technological projects, such as paying for urban transport using contactless bank payment cards, paying for communications and utilities, customs and tax payments, Internet and mobile banking, card-to-card transfers, insurance, and deposit payments through ATMs. In addition, Azericard offers a variety of loyalty programs, multicurrency cards, and much more.
The collaborative efforts extend to providing mutual support for startups, facilitating their expansion into the markets of both countries. The memorandum also includes provisions for cooperation in the fintech sector.
Azericard, serving as the primary national processing center in Azerbaijan, holds certifications from major international payment systems, including Mastercard, Visa, American Express, Diners Club, UnionPay, and JCB. The organization extends its services to 19 Azerbaijani and foreign banks.
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