Financial Services Development Project
It should be noted that the Central Bank issued licenses to 63 branch post offices and 1104 post offices to provide banking and financial services until 2015.
In 2015, 2 495 722 money transfers were received in the Automated Corporate Information System (ACIS) across the country, 2 406 197 were paid.
For a more secure implementation of transactions over the Internet by holders of Azerpost LLC payment cards, the 3D secure code project and the Mobile Banking (CIB) service were launched. In addition, a bilateral agreement was signed between Ideal Kredit and Azerpost LLC. According to the agreement, the service fee for cash and non-cash transactions within the Millikart network, as well as acceptance of payments was paid to Azerpost LLC.
During the first European Games in the Athletes Village and Media Village in Baku, as well as in the Athletes and Media Village in Mingachevir, mobile post offices were opened to provide postal and financial services.
During 2015, Azerpost LLC cooperated with the Visa and Registration Department of the Ministry of Internal Affairs of the Republic of Azerbaijan to pay duties on the spot when issuing a general civil (foreign) passport.
As part of the financial services development project, the necessary technical measures were taken to connect 1132 post offices of Azerpost LLC to the central server. Also, connection of 80 rural post offices to the server through Azercell 3G technology, and 350 rural post offices through the xDSL network of Aztelecom with a speed of 1 Mbit / s (data transfer) was provided. Access of other post offices to the computer network of Azerpost LLC was provided through the Azdatacom network.
Within the framework of the financial services development project, the Customer Service Center of Shirvan Branch Post Office was completely reconstructed and put in commission. As a continuation of the project, 10 mobile buses of ASAN xidmet were connected to the network of Azerpost LLC. In order to organize a high level of service in post offices, 50 POS terminals, 7 ATMs, as well as 5 payment terminals and 5 Exchange terminals were purchased.
International co-branded cards were issued jointly with İnvestAZ. The Internet banking service was made available for use by clients. In the regions, especially in the villages, 253 SmartPay mobile terminals were programmed and transferred to the branches in order to promptly organize service of payments on site without visiting the branch.
According to the decree of President Ilham Aliyev dated February 28, 2019 “On additional measures to resolve issues with problem loans of individuals in the Republic of Azerbaijan, Azerpost LLC paid compensation in the amount of 62 940 280 manats 11 qepik to the clients of non-banking organizations and banks that have suspended their activities. According to the list presented by the Financial Market Supervisory Authority, the transactions carried out by Azerpost LLC covered about 121 000 citizens.
In order to prevent the threat of the spread of COVID-19 coronavirus in Azerbaijan, the process of issuing one-time payments (190 AZN) to unemployed and informally working low-income citizens who lost their jobs due to a special quarantine regime imposed in the territory of the country from the beginning of 2020 was carried out in the post offices of Azerpost LLC. Under the project, Azerpost LLC issued payments to over 590 000 citizens.
During the special quarantine regime, Azerpost LLC also provides support in the implementation of a number of social projects. Thus, in accordance with the strategy of corporate social responsibility, as well as support for farmers to prevent mass gatherings of people in enclosed spaces, 203 010 “farmer cards” were delivered to farmers through 53 branch post offices of Azerpost LLC.
During the quarantine regime announced in the country due to the pandemic, the post offices of Azerpost LLC provided postal and financial services to citizens on week days, including Saturdays, Sundays and holidays. During this period, 10 417 957 AZN was cashed in ATMs and POS-terminals owned by Azerpost LLC through payment cards of other banks.
In order to expand the use of electronic financial services in the country, in particular, by the population living in remote areas and the private sector operating there, in 2020 Azerpost LLC began a partnership with the International Finance Corporation (IFC), a member of the World Bank Group. Under the project, IFC will jointly work with Azerpost to develop an e-wallet that will allow it to perform electronic financial transactions. Electronic and Digital Financial Services project (IFC) implemented in partnership with the Swiss State Secretariat for Economic Affairs (SECO), will enable people and small entrepreneurs living in rural areas, far from bank branches, to make payments without visiting a bank and have digital access to basic banking services.
Azerpost LLC has joined the centralized “Information-search system for financial services and products” of the Central Bank of Azerbaijan (CBA) and the sections of the system (infobank.az) “Branches and departments”, “ATMs”, “Payment terminals”, “Payment cards” contain relevant information of Azerpost LLC.
Azerpost LLC has become a new partner of UPT money transfer system in Azerbaijan. According to the agreement “On cooperation in payment transfer system”, Azerpost LLC and the Turkish State Postal and Telegraph Organization began to provide services at more favorable rates. Under the agreement, Azerpost LLC and PTT agreed to use the “Payment Transfer System” provided by Aktif Bank. From April 2021, citizens can make reliable money transfers at lower rates at 1,500 Azerpost and 5,000 PTT post offices without opening an account.