BAKU, Azerbaijan, June 9. Click to Pay and
Passkey will be the next stage in the development of digital
payments in Azerbaijan, Senior Director, Regional Manager of Visa
in Azerbaijan, Nurlan Hajiyev, said at the International Finance
and Banking Summit taking place in Baku, Trend's correspondent reports.
According to him, Click to Pay technology, based on the EMV
standard, enables card data storage and one-touch transactions and
has already become a global trend, spanning not just individual
countries but the entire world.
He noted that approximately 10 Azerbaijani banks have
successfully completed the issuing phase of this technology.
"The next stage of development, as noted, will be the
introduction of passkey technologies, which allow for payment
confirmation using biometric authentication, including fingerprints
and facial recognition.
E-commerce is seeing an increase in the use of tokenized
transactions. Over the past 12 months, Azerbaijani cardholders have
increased the number of cross-border transactions by approximately
1.5 times, and domestic transactions by almost 2.5 times," he
said.
Hajiyev also noted that the development of Click to Pay and
passkey is linked to the emergence of a new stage of digital
commerce, including the transition to an agent-centric commerce
model.
According to him, research shows that 58% of users are willing
to delegate price comparisons to agents, 55% are willing to search
for special offers, and 38% are willing to handle the entire
shopping process.
