The central bank of the Republic Azerbaijan completed creation of the interbank card center

On April 12, 2016 the Tieto company announced the project of creation of the interbank card center for the order of the Central bank of the Republic Azerbaijan. The project is implemented on the Tieto Card Suite platform.

Project Results

The platform Tieto Card Suite provides full control over internal transactions of payment cards Visa and MasterCard, providing their authorization, routing of transactions, interbank clearing and settlement, including a full stroke of processing of disputable transactions.

Building of office of the Central bank of the Republic Azerbaijan (2014)

The implementation project of the Interbank card center began in 2014, and the Central Bank of Azerbaijan accepts result of its successful completion in operation today. The interbank card center is the interface for information exchange between infrastructures of all processing centers of the country. The interbank card center will provide processing and clearing of payment card transactions, emitted by resident banks, between all processing centers. So far this process was executed by international payment systems (Visa Inc. and MasterCard). This project will provide big efficiency of transactions within the country, will contribute to the development of non-cash transactions using payment cards and to application of more convenient commission rates. Alim Guliyev, the first deputy chairman of the board of the Central Bank of the Republic Azerbaijan

Creation of the Interbank card center was a problem of national scale and the large project for the Central bank of the Republic Azerbaijan. We are glad that the bank selected the partner Tieto company. The Tieto solution of Card Suite will provide the reliable platform for future development of National payment system of Azerbaijan. Mâris Ozolinsh, director of division of Cards, Tieto