Azerbaijan connects to faster money transfer system

Measures are now being implemented in Azerbaijan to improve acceptance, possessing and payment of internal and external remittances. This information was provided to ICTnews by Novruz Mammadov, the head of the Postal Sector of the Ministry of Information and Communication Technologies of the Republic of Azerbaijan. According to him, the representative of COLVIR company was invited to Azerbaijan in order to introduce necessary chances to the system.

As a result of the implementation of a technical project,  the 1^st (old) version of the “STEFI”  high-speed money transfer system at the Data-Computing Center was abolished, and the final (new) version  of this system called “COLVIR” was launched  at Azerpost SE. “Azerbaijan already carries out remittances with Russia, Ukraine, Belorussia, Kazakhstan, and Moldova by means of COLVIR. Similarly, COLVIR was introduced in regional centers of Nakhchivan AR, who also started to use this system to carry out internal and international remittances.

Let’s note that a pilot project was launched in Azerbaijan, within which urgent money transfers are carried out between Azerbaijan and Ukraine in the real-time mode.  Due to successful implementation of the Project, Azerbaijan is expected to start carrying out urgent money transfers in near future with Russia, Belorussia and Kazakhstan as well.   

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