BAKU, Azerbaijan, October 12. The Azerbaijani
market is of considerable interest to Turkish payment company
Ist-Pay, which plans to develop its international money transfer
infrastructure in the region, Ist-Pay Business Development Manager
Svetlana Mammadova told Trend during B2B meetings held as part of a fintech
mission organized by the Turkic States Fintech Alliance (TÜRKFİN)
in Baku.
According to Mammadova, the company held meetings with local
fintech firms and financial institutions operating in related
fields.
“It is very important for us to be here and hold face-to-face
meetings with local companies, fintech firms and financial
institutions operating in the same field as we do. Whether these
meetings lead to further cooperation or remain one-off engagements,
we are gaining experience and expanding our network of contacts
between our two friendly countries.
During these meetings, the company aims to establish contacts
with as many financial institutions as possible to exchange
experience and study trends in Azerbaijan’s domestic and
international payments markets.
We have focused on financial institutions operating in the same
sector as our company. Our goal is not only to develop our business
but also to exchange expertise and build a shared ecosystem between
the two countries,” she said.
Mammadova also expressed confidence that the meetings could lead
to the signing of documents and agreements aimed at strengthening
cooperation.
“Azerbaijan is one of the hubs for the development of Türkiye’s
international money transfer ecosystem. I believe that the signing
of documents and agreements will lead to the creation of new
channels, the development of payment infrastructure and the
introduction of new payment solutions for local and Turkish
customers,” she noted.
According to Mammadova, Ist-Pay is a licensed payment
organization in Türkiye. The company primarily specializes in
international money transfers, including cash transfers, digital
transfers and international payments.
The company is working with international partners to establish
channels that enable customers and partners to transfer money
between the two countries.
“We believe we can build reliable infrastructure for
international money transfers in the region,” Mammadova added.
The Baku Fintech Sector Trade Mission, organized by the Turkic
States Fintech Alliance (TÜRKFİN), is bringing together
representatives of the financial and fintech sectors of Azerbaijan,
Türkiye and Kazakhstan.
The program includes discussions on prospects for developing
digital payments across Turkic states, harmonizing approaches to
financial technology regulation and exploring emerging
technological trends in payment systems.
