Startups

United Payment, one of the local electronic money companies, started instant money transfers to Azerbaijan

United Payment, Turkiye’s leading FinTech company, started to provide infrastructure services for international money transfers to Azerbaijan. Conveying its strength and experience in Turkiye to abroad, United Payment will make international money transfers to Azerbaijan instantly and without commission to all cards. The company, which is preparing to commission technologies such as virtual POS and smart safe solutions in Azerbaijan in 2023, will enable its global business partners to enter the market.

With its innovative FinTech solutions, one of the first electronic money companies in Turkiye, United Payment, has also brought its international money transfer service to Azerbaijan. Continuing its activities within the scope of its vision to become the leading FinTech in the region, United Payment makes money transfers to Azerbaijan from Turkiye instantly and without commission.

‘We are the first company to provide commission-free money transfer infrastructure’

Indicating that there is a strong bond between Turkiye and Azerbaijan, Joint Payments CEO Ilker Sozdinler said, “As United Payment, we started our international expansion with Azerbaijan about 1.5 years ago. We aimed to carry the strong bond between the two countries even further with the financial technologies we developed. We have completed our licensing processes by making the necessary applications. Currently, as United Payment, we are the first company to provide commission-free money transfer infrastructure from Turkiye to all cards in Azerbaijan. We offer users in Azerbaijan 24/7 money transfer without waiting, within seconds, and commission-free to all cards. With our experienced team, we also provide infrastructure services for Turkish enterprises such as Turan, of which we are an investor, and support the success of startups abroad. In the coming days, we will continue our presence in the market with our other products such as smart safes and virtual POS; We will also ensure that our global business partners open up to Azerbaijan. The most important factor of our success is that we carry out our operation here with Edgar F. Abdullayev, Azerbaijan Country Manager, who is experienced in the market dynamics of the country and has a command in the field of banking and financial technologies.”

‘We dominate 10% of the market with the technology we offer’

United Payment Azerbaijan Country Manager Edgar F. Abdullayev said: “We have many citizens in Azerbaijan who left their families and went to Turkiye to work. Likewise, there are many families whose children study in Turkiye. Citizens want to transfer money to their families or children when needed. They also have to pay a high amount of commission for the transfer. Thanks to our strong connections with the banks in Azerbaijan, our cooperation with Azintelecom, which has the most technological and powerful data center infrastructure in the country, and our secure and high-tech infrastructure with Tier III certification, money transfer in Azerbaijan has become possible 24/7, regardless of after-hours or weekends. At the moment, we dominate 10% of the market thanks to the combined technology infrastructure.”

Source: Egirisim / Prepared by Irem Yildiz

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