Central Bank of Azerbaijan, Visa mull security of cross-border remittances

The Central Bank of Azerbaijan (CBA) and Visa have discussed ways to enhance the security of cross-border remittances, Report informs, citing the CBA.

A meeting was held between CBA Governor Taleh Kazimov and Visa's Senior Vice President and Regional Manager for the CIS and Central and Eastern Europe, Cristina Doros.

During the meeting, the sides reviewed recent regulatory changes in the payments sector, measures to prevent fraud, and the application of modern approaches to strengthening the security of payment systems and cross-border transfers.

The discussions also included an extensive exchange of views on initiatives being implemented in Azerbaijan to modernize payment infrastructure, develop the digital payments ecosystem, and introduce innovative solutions in the financial sector.