AzeriCard is an Azerbaijani bank card processing company. The International Bank of Azerbaijan owns 100 percent of AzeriCard.
Products
Mobile Wallet
AzeriCard offers customers what is known as a “mobile wallet." Customers can use their smartphone to pull out cash from ATMs without using an actual bank card during the transaction. The technology is named “Way4 Cash By Code." AzeriCard worked with technology company OpenWay to produce the mobile wallet service. By 2011, 15 banks in Azerbaijan were using mobile banking technology provided by AzeriCard.
Market share
As of 2016 November-end, 35% of plastic cards, 65% of ATMs and 62% of point-of-sale terminals in Azerbaijan are served by AzeriCard. Currently, more than twenty banks locally and internationally use the services of AzeriCard.
Competitors
As of the beginning of 2017, there are two other companies in addition to AzeriCard that provide card processing services: MilliKart and KapitalBank.
History
First bank card
In 1997 AzeriCard was credited with creating the very first bank card in the country of Azerbaijan; the card was issued by the International Bank of Azerbaijan. AzeriCard’s systems work with MasterCard, Visa, American Express, Diners Club, UnionPay and JCB International.
Ownership
AzeriCard is one of several subsidiaries of the International Bank of Azerbaijan. Other subsidiaries are:. IBA-Moscow International Bank of Azerbaijan-Georgia International Insurance Company In addition to the International Bank of Azerbaijan, AzeriCard works directly with IBA-Moscow and IBA-Georgia.
Customers
Banks that use AzeriCard’s services are: AGBank Amrahbank AtaBank Bank Respublika International Bank of Azerbaijan PASHA Bank Nikoil Bank Ziraat Bank Azerbaijan Silk Way Bank TuranBank Xalq Bank AFB Bank Azer-Turk Bank Bank Avrasiya Bank BTB NBC Bank Caspian Development Bank MuganBank Rabitabank VTB Bank Azerbaijan KDB Bank Uzbekistan