OREANDA-NEWS. July 01, 2014. “International Bank of Azerbaijan” (IBA) OJSC started issue of Pay Wave cards from Visa Inc for the first time in history of the country.

According to IBA, such cards are operating on touch free technologies and provide maximum level of protection. The transactions in amount of up to AZN 20 can be conducted in trade-service network without input of the card’s PIN code.

“Start of issue and reception of such cards will help to increase the volume of non-cash payments in the country. Special terminals for such cards have already been installed at 70 commercial facilities in the country”, - IBA said.

The network of touch-free POS terminals will be expanded in the nearest future. IBA has already been working with MasterCard payment system using such technology.