Azerbaijan Banks Association and RNDU sign Memorandum of Understanding.

A Memorandum of Understanding has been signed between the Azerbaijan Banks Association and the Retail Networks Development Union.

The document provides for the development of institutional cooperation between the banking sector and retail networks, the improvement of the cashless payment ecosystem, and the strengthening of dialogue on aligning banking services with the operational needs of retail businesses.

Within the framework of the Memorandum, the parties plan to discuss practical matters relating to POS terminal and acquiring services, card payments, QR-based payment mechanisms, digital financial instruments and other banking services.

This cooperation will contribute to the establishment of a sustainable platform for dialogue between the banking and retail sectors and support the development of mutually beneficial initiatives.