AzeriCard

AzeriCard is an Azerbaijani bank card processing company.^[1] The International Bank of Azerbaijan owns 100 percent of AzeriCard.^[2]

AzeriCard

Industry	Financial services
Founded	1996; 29 years ago (1996) in Baku, Azerbaijan
Headquarters	Azerbaijan
Services	card processing
Parent	International Bank of Azerbaijan

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."^[3]
• AzeriCard worked with technology company OpenWay to produce the mobile wallet service.^[3]
• By 2011, 15 banks in Azerbaijan were using mobile banking technology provided by AzeriCard.^[4]

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.^[5]
• 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.^[6]

History

An example of the front of a typical debit card:

1. Issuing bank logo
2. EMV chip
3. Hologram
4. Card number
5. Card brand logo
6. Expiration date
7. Cardholder's name

An example of the reverse side of a typical debit card:

1. Magnetic stripe
2. Signature strip
3. Card Security Code

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.^[7]
• 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:.^[8]
  • 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.^[2]

Customers

Banks that use AzeriCard’s services are:^[1]

• AGBank
• Amrahbank
• AtaBank
• Bank Respublika
• International Bank of Azerbaijan
• PASHA Bank
• Yelo 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

See also

• Banking in Azerbaijan
• Credit card
• International Bank of Azerbaijan
• List of companies of Azerbaijan