At the initiative of the Central Bank of Azerbaijan (CBA), measures were taken to form a cashless payment ecosystem, which is one of the most important components of the "smart village" concept, in Agali village of Zangilan district.
The introduction of digital payment solutions with the participation of the banking sector and international card organizations has made it possible to accept convenient, fast and safe payments by increasing access to financial services for rural residents.
According to the information given to "APA-Economics" by the CBA, economic entities operating in Agalı village were provided with all the necessary means for accepting non-cash payments within the framework of the implemented measures.
In order to create alternative payment options, payment terminals have been installed in the village of Agalı, and access to bank accounts and payment cards has been created 24/7.
At the same time, bank accounts were opened and payment cards were presented to those who applied for payment cards.
With the initiative of the Central Bank of the Republic of Azerbaijan, the Ministry of Science and Education of the Republic of Azerbaijan, "Kapital Bank" OJSC and the support of "Mastercard" international card organization, the "Smart education card" project was successfully implemented for the students of Agali village secondary school.
Within the framework of the project, smart education cards, which include both the student card and the functionality of supporting non-cash payments, were presented to students.
With the support of "International Bank of Azerbaijan" OJSC, "Kapital Bank" OJSC and "Mastercard" international card organization, special "cashback" projects on non-cash payments were launched in economic entities in order to stimulate the use of the non-cash payment infrastructure created in Agalı village.
In addition, a program of educational events covering all target groups has been prepared in order to increase the financial literacy of the population.
In order to stimulate participation in the webinars intended for schoolchildren within the program, all schoolchildren were provided with tablets.
It should be noted that cashless payment projects implemented on the basis of the "smart village" concept are planned to be implemented in other regions as well.