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Baku –19th of June 2017. Global payment technologies provider company Mastercard and leading public institution in Azerbaijan “Innovation Center” has signed a Letter of Intention about cooperation on financial literacy projects and contribution to the vision of “Cashless Azerbaijan”.
The letter features agreement on development of the projects contributing to the financial literacy and accordingly driving better financial inclusion objectives towards Cashless Azerbaijan. It was also a formal expression of Mastercard’s intention to launch a partnership with the institution for various initiatives targeting promotion of the cashless society.
“Being financially excluded and illiterate leads to cash-based economy that makes citizens and governments vulnerable to social problems, inconvenience and higher costs. Our approach to financial inclusion is not through corporate social responsibility or philanthropy. We address it by applying digital payments technology through public and private partnerships and contributing to raise financial literacy levels. We are happy to start the partnership with Innovation Center the leading public institution of Azerbaijan”, - noted Azerbaijan Country Manager, Mastercard Alper Meriç.
It's noteworthy that alongside the strong commitment in consumer market, Mastercard is stepping into a new chapter in relations with public and governmental bodies in Azerbaijan with the intention of applying its latest advanced technologies in cashless payments.
“ASAN Innovation Center is one of the leading entities focused on developing electronic payments in the public sector. We are always eager to develop relations with international partners and now I think the commencement of first stage of partnership with Mastercard is going to be a significant step forward in further development of our cashless vision in Azerbaijan”, - highlighted the Director of Innovation Center, Kamran Aqasi.
The LoI was signed by Alper Meriç - Azerbaijan Country Manager of Mastercard and Kamran Aqasi – Director of ASAN Innovation Center.