The Central Bank of the Republic of Azerbaijan has held an event with representatives of banks and fintech organisations focused on the digital transformation of the payments ecosystem and its development prospects. The main topics were broader adoption of digital payment instruments, development trends and future plans for the Instant Payment System, AZQR payments, and open banking solutions, including new opportunities for banks and fintechs. Presentations covered the effect of QR payments and payments executed through the Instant Payment System on consumer payment behaviour, the need to strengthen cooperation among market participants, and the importance of forming common standards. The event also included a panel discussion with the Central Bank, the Azerbaijan Banks Association, the Azerbaijan Fintech Association, and industry participants on the development of digital payment solutions, the use of innovative approaches, cooperation opportunities across the market, and future strategic directions.
Central Bank of the Republic of Azerbaijan 2026-05-08
Central Bank of the Republic of Azerbaijan convenes banks and fintechs on digital payments expansion instant payments and open banking
The Central Bank of the Republic of Azerbaijan held an event with banks and fintech organisations on the digital transformation of the payments ecosystem, focusing on wider use of digital payment instruments, development of the Instant Payment System, AZQR payments, and open banking solutions. Discussions highlighted the impact of QR and instant payments on consumer behaviour, the need for stronger cooperation and common standards, and future strategic directions for digital payment solutions.