According to the Law of the Republic of Azerbaijan "On Payment Services and Payment Systems", persons providing payment services to payment service users must operate on the basis of a license issued by the Central Bank.
Organizations that have applied to the Central Bank to obtain a license to provide payment services are being evaluated according to the relevant legislative requirements. Within the framework of the works carried out in this direction, by the Decision of the Board of the Central Bank dated May 16, 2024, "A-Solutions Electronic Money Organization" LLC and "UNITED PAYMENT" LLC were granted the activity of an electronic money organization, and "Token Azerbaijan" LLC was granted the activity of a payment organization. indefinite licenses giving the right to carry out were presented.
Evaluation of other organizations that have applied to the Central Bank for obtaining a license to provide payment services is currently ongoing.
It should be noted that the information about the licenses to be issued for the implementation of payment services will be announced through the website of the Central Bank.
