Payture started the updated solution for online payments of Uber in Azerbaijan

2019: Updating of the solution for online payments in Azerbaijan

On October 22, 2019 the company Payture reported that together with an online service for orders cars Uber restarted online payment in the Uber Azerbaijan application. Thanks to local to acquiring now these payments are not assessed with the VAT, and trip cost for the end user fell by 18%.

This format of online payments in the application of Uber in Azerbaijan became result of long negotiations with the central bank and local banks of Azerbaijan and also the technical integration performed by a processing center of Payture. The Azerbaijani bank "Respublika" became Ekvayer.

Among advantages of the updated processing — lack of the VAT. Earlier at payment the tax in the amount of 18% was added to the cost of a trip. Now, thanks to local acquiring, online payments in the Uber Azerbaijan application are not assessed with the VAT that does service much more profitable for the end user.

The market of e-commerce and cashless payments is in Azerbaijan at a stage of active growth: earlier in the Central Bank of Azerbaijan noted that for 2018 the volume of electronic trading in the country increased by 96.7% — to 1331.3 million manats from 676.7 million manats. In the first half of the year 2019 the volume of payments by means of bank cards in Azerbaijan was 12 billion manats that is 0.7 billion more, than for the same period of 2018.

The number of holders of cards in the country increased by 16.9% for last year – to 6.7 million from 5.8 million people. The share of non-cash turnover in card transactions increased from 15.7% to 20.1%. Emergence of modern solutions in the field of Internet acquiring — an inevitable component of the general market development. Safe and flexible payment infrastructure helps business to increase online turnover and to start the services demanded among active audience.

Development of payment infrastructure not only in Russia, but also around the world — a part of the global development strategy Payture. Many clients of our service actively master international markets, and it is important to us to provide stable development of their business in other countries. We already work in Europe, in the CIS countries and at the Middle East. Together with our strategic partner, service of the order of the Uber car, we did a great job to implement compound technical integration with banks of Azerbaijan and to make online payments available and convenient. The market of the CIS is interesting to the Russian companies, and we are glad to propose the ready-made payment solution for fast localization in Azerbaijan, commented Anna Salomatova, the commercial director of Payture