Money orders system to be launched between Azerbaijan and Belarus

Azerpoct LLC, the Azerbaijani postal operator is expecting the launch of a money transfer system using the STEFI system (Secured Transfer of Electronic Financial Information) with Belarus, on December 1, deputy chairman of the Commission for postal services of the Regional Commonwealth in the field of Communications, head of postal communications department at the Ministry of Communications and Information Technologies of Azerbaijan Novruz Mammadov informed press. Mammadov said work in this direction is underway and the system is at the test stage. At present, the system has successfully been implemented with Ukraine.

The use of STEFI allows postal operators to offer money transfers within 30 minutes. The implementation of the tariff money transfers using the STEFI system corresponds with tariffs currently operating in money transfers in other systems.

A further launch of STEFI is planned with Moldova, Russia and Kazakhstan. Legal documents on the use of money transfer system with Moldova have already been signed. Earlier Mammadov said the main advantage for the Azerbaijani postal service in the implementation of this system is that income received from the transfers belongs totally to Azerpoct The STEFI system is designed by the Postal Technology Centre of the Universal Postal Union, and enables a move from the paper exchange of international money transfers to electronic.

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