The Central Bank of the Republic of Azerbaijan has amended Azərikard LLC’s licence by cancelling its permission to issue electronic money and execute payment transactions using electronic money, following an application by the firm. As a result, Azərikard will continue operating as a payment institution and a payment system operator, rather than as an electronic money institution. Azərikard was originally licensed on 12 September 2024 as a payment system operator and, separately, for payment transaction acquiring and for the issuance and use of electronic money. Under a Central Bank Board decision dated 8 October 2025, the electronic money issuance and e-money payment execution service was removed from its licence.
Central Bank of the Republic of Azerbaijan 2025-10-09
Central Bank of the Republic of Azerbaijan cancels Azərikard’s e-money activity while keeping it licensed as a payment institution and payment system operator
The Central Bank of the Republic of Azerbaijan has amended Azərikard LLC’s licence, removing its authorization to issue and execute payment transactions using electronic money. This change follows an application by Azərikard and redefines its role to operate solely as a payment institution and payment system operator.