OREANDA-NEWS. December 11, 2009. During the I National Internet Forum, Jahangir Mamedov, the head of AzeriCard's Business Development Department, has said that approximately in the first half of 2010 the Processing Centre is to offer a card-to-card money transfer service, reported the press-centre of IBA.

"As soon as we complete the full certification and integration of this service we are going to offer it to all banks, and then it will be up to the banks themselves to decide whether to buy it or not", Jahangir Mamedov told the press.

He explained that the transfer of money from the bankcard of a particular bank is feasible only if the bank that accepts the money also supports this service.

"This service is rendered by "Visa" and "MasterCard". And then it depends on the policy of a particular bank whether to connected to it or not. Nevertheless, this opportunity will certainly be provided", the head of department said.

"AzeriCard" processing company is fully owned by the "International Bank of Azerbaijan" (IBA). The company's charter capital constitutes 500 thousand manats. The Processing Centre has been certified by the international payment systems of "Visa International", "MasterCard Worldwide" and "American Express", and as a clearing and confirmation centre currently provides the services to 30 banks, including, besides the Azerbaijani banks, also the foreign banks, such as the "Royal Bank of Scotland Uzbekistan", "IBA-Moscow", and "IBA-Georgia".

Following the results of its performance in 2008, the actual turnover with respect to bankcards issued by the banks, which operate through "AzeriCard" system, amounted to 4 billion manats.