OREANDA-NEWS. March 12, 2013. International Bank of Azerbaijan (IBA) is to carry out new projects related to expansion of volume of cashless settlement of accounts in 2013 in our country and increase of number of POS-terminals.

Currently, the bank, which has increased the number of POS-terminals to 4628 and number of bank cards to 2.214.117, has also enlarged its cooperation with partners in use of the latest range of services applied in the Europe.

One of the projects, which is completed by the IBA and prepared for launch - issue of virtual card along with “AzeriCard” processing center. Virtual cards are used for payments in the internet. According to a service, one-time passwords system is used for safety of card transactions, data associated with card details within the frame of service are sent to customer’s phone number through the SMS. Passwords are sent before the transactions. Thus, transactions, which are not confirmed by the password, are not conducted.

According to information provided by the IBA, the balance of virtual card may be replenished uith the “Cash to Card”, “Card Transfer”, “VISA Personal Payments” and “MasterCard Money Send” services. One of advantageous features of this card is the balance replenishment with the balance of mobile phone. Currently, all technical means and infrastructure are available for application of the new service. Final negotiations with mobile operators are under way.

International Bank of Azerbaijan has also completed its works on project related to acquisition of monetary funds through mobile phones. Within the framework of project implemented  jointly with “AzeriCard” processing center, it is also possible to acquire cash funds from the ATM through the mobile phone without a card. One of main features of this innovation created for customers of “MobilBank” service, which is applied within the framework of “Mobile Wallet” service for the first time in Azerbaijan, is a transfer of cash funds from bank accounts in any amount and currency to persons who do not have a card.

In order to use a service, card holder selects “Cash by Code” in the main menu of “MobilBank” service, enters amount and currency. Special code is being sent to the customer’s phone. If the card holder is willing to transfer that amount to anyone, he/she sends such code to him/her by SMS. At the same time, if the card holder does not have a card with himself/herself, he/she acquires cash funds from the ATM through that code. Along with cash withdrawals from the ATM without a card and money transfers, it is also possible to make utility payments and non-card transactions in trade and service points through the mobile phone in accordance with this type of service.

Other project of the International Bank of Azerbaijan, which is being applied for the first time in the banking system of Azerbaijan, is money transfers to the cards of other bank located outside of the country. Thus, according to joint project implemented with “VISA”, bank customer, without applying to any IBA branch, may transfer funds to the person having cards of banks of CIS countries. Daily transfer limit is 2 thousand manats in first case and a thousand US dollars in the second case. Along with this, it is also possible to transfer funds through the ATM to cards of persons residing in Azerbaijan.

It is also possible to make a number of permanent payments (loan payments, insurance, alimony etc.) from accounts of natural persons in automated mode with the assistance of “Automatic payment” service, another service offered by the IBA.