The Central Bank of the Republic of Azerbaijan announced that two electronic money institutions, Mpay and Goldenpay (Pulz), have joined the country’s open banking ecosystem for the first time, extending a framework that had already integrated a number of commercial banks. The move forms part of the central bank’s digital financial services initiatives and broadens open banking access for users, including the ability to manage multiple financial accounts through a single platform and access financial data more conveniently and securely. For electronic money institutions, participation creates scope to develop new products and services within the open banking environment and supports greater cooperation among market participants and stronger competition. Work to expand the ecosystem is continuing, with additional participants planned to join in later stages.
Central Bank of the Republic of Azerbaijan 2026-05-01
Central Bank of the Republic of Azerbaijan adds first two electronic money institutions to open banking ecosystem
The Central Bank of the Republic of Azerbaijan announced that electronic money institutions Mpay and Goldenpay (Pulz) have joined the country’s open banking ecosystem, extending a framework previously limited to commercial banks. The move is part of the central bank’s digital financial services initiatives, broadening user access to consolidated account management and financial data, and enabling these institutions to develop new products, enhance cooperation and increase competition, with further participants expected to join.