In just a few seconds, we can make any payments even to the longest distances, we control our budget regardless of time and place, our money is insured against all risks, and most importantly, we manage our time properly.

All this is possible thanks to digital transactions.

"APA-Economics" had a conversation with Avshar Gurdal, General Director of "Mastercard" for Turkey and Azerbaijan, about this topic.

- Let me first congratulate you on your appointment as the CEO of Mastercard for Turkey and Azerbaijan.

What can you say about the new products, services and solutions offered by "Mastercard" to its customers in Azerbaijan?

- As Mastercard, our main mission in Azerbaijan is to increase the share of cashless payments for the benefit of customers, partner banks and all interested parties in the country.

We will continue to implement the initiatives arising from the Digital Country Partnership Agreement signed with the Central Bank of Azerbaijan.

In addition, we intend to contribute to the transformation of Azerbaijan into the leading cashless economy of the region.

Mastercard has the technology, reputation and capabilities to partner with financial institutions, merchants, governments and non-governmental organizations to create solutions for a healthy economy.

In particular, we have successfully launched ApplePay solutions in 2021 and today we are introducing its alternative GPay (GooglePay) for Android users.

We will actively promote NFC transactions to stimulate the transition from cash transactions to contactless and NFC.

We will also expand our partner network to contribute to our growing NFC business.

We will continue to invest in Masterpass, a Card-on-File solution that makes online shopping fast and secure and reshapes the e-commerce experience by continuously attracting new partners to the platform.

We will focus on Tap-on-Phone technology, which turns a merchant's smartphone or tablet into a contactless point-of-sale (POS) terminal that can accept payments from customers' contactless cards or mobile wallets on the spot.

We will actively promote our platforms that provide secure real-time cross-border transfers from billions of cards, bank and digital accounts globally.

- How has the general attitude to cashless and contactless payments changed in our country in recent years?

- We are determined to lead Azerbaijan to a cashless future.

Therefore, all our projects and plans serve to create infrastructure for a Digital and Cashless Future.

Since the beginning of the pandemic period, we have been implementing a number of projects in the country, which has led to an increase in the number of cashless payments and, as a result, an increase in the level of information and confidence among users.

Since the launch of the "Cashless Azerbaijan" program, the number of payment cards in Azerbaijan has doubled.

The volume of domestic transactions increased from 2.6 billion manats to 11 billion manats, and the share of electronic commerce increased from 9 percent to 30 percent.

This growth rate means that e-commerce volumes have increased more than 10 times in 4 years.

- What are the main advantages of non-cash payments?

- One of the main advantages of being simple is comfort.

Making financial transactions easy is one of the biggest factors of digitization.

Even before the pandemic made it a hygienic imperative, there were incentives and rewards for going cashless.

It can also help reduce fraud and fight money laundering, as the ability to track electronic payments makes it harder for criminals to launder money.

Plus, on a personal level, it's safer: if you don't have cash, you don't have funds to fall into the hands of thieves.

Thus, there is potential to reduce the number of crimes in general.

Cost savings are needed for countries transitioning to a cashless economy.

Bills and pennies are expensive to produce and even more expensive to manage, store, market and invest as business functions.

Cashless is also an international payment and can make international travel a simpler experience.

If you can pay for everything with your smartphone or card anywhere in the world, there is no need to exchange your national currency for the local currency when traveling abroad.

- How does Mastercard promote cashless payments in Azerbaijan and other countries?

- As Mastercard, we are interested in promoting cashless payments in Azerbaijan and intend to contribute to Azerbaijan becoming the region's cashless payment leader, increase transparency and support economic growth.

As part of this strategy, we continuously organize various campaigns in the market.

Today we will announce a series of campaigns that will promote the use of GPay (Google Pay) among Azerbaijani consumers.

Our successful projects in Shamakhi (transport card), student cards and many others show that after a consumer tries digital payments for the first time, the probability of using them again increases by 50%.

If you don't check, you can't trust.

- How would you describe the fintech landscape in Azerbaijan and Mastercard's relationship with it?

- Mastercard has been focused on fintech for many years, transforming from a company focused on plastic cards to a company focused on digital payment processes and tools.

As a Mastercard company, we support startups with easy Mastercard solutions for their continued growth from market entry.

The initiative helps fintechs pursue their goals using specially designed tools, including the StartPath platform – a startup participation program that gives fintech companies access to partnership opportunities, data and tools to grow, and access to Mastercard's technology, partnerships and expertise.

We are pleased to announce that SmilePay, an Azerbaijani startup, is one of the eight startups in the world that have joined the Mastercard Start Path.

-Why are Google Pay and other mobile device payment solutions important to consumers and the payment ecosystem?

-Mastercard, which brings GooglePay and other XPays to Azerbaijan, provides more secure and special payment options for customers, that is, it helps them avoid certain transactions, such as handing their bank cards to others, physically touching buttons or exchanging cash.

Google Wallet provides a fast, easy and secure way to pay with any Android phone or Wear OS device.

Pay on trains, tap to pay in stores and more.

No matter where you go, everything is at your fingertips in one place.

- What benefits does Google Pay promise to users?

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Smartphones are more than just a means of communication, and while they are used by people to get from one place to another, attend various events, order food, they currently hold their cards and loyalty programs.

Starting today, Mastercard holders in Azerbaijan will be able to add their cards to Google Wallet and pay with WearOS devices and Android phones where contactless payments are accepted.

Google Wallet provides a fast, easy and secure way to pay with any Android phone or Wear OS.

GooglePay is available at Mastercard partner banks such as ABB, Kapital Bank, Bank Respublika, Unibank, Rabitabank and Pashabank.

Mastercard card holders will now be able to take advantage of both Mastercard campaigns and offers provided by these banks.

- What new methods of non-cash payments will be applied in Azerbaijan?

Are there any futuristic payment methods we should expect in the next 10 years?

- We believe that the use of cash will decrease greatly in the next 10 years.

As we bring all of our innovative solutions to Azerbaijan as well as the rest of the world, and as people of all ages adapt to new technologies, we expect some innovative payment methods, including facial recognition, to become popular as an everyday payment solution for biometric payments.

We believe that your successful projects will continue.

Thank you for your time!