Registration to be mandatory in electronic wallets

From May 9, the use of the electronic wallet will be restricted for those who do not register with the FIN code. Each user must register with a photo and FIN code by the specified date within the framework of customer identification and verification procedures, Azernews reports.

According to the relevant legislation of Azerbaijan, as with all financial applications, it is mandatory to register with a personal FIN code in m10 electronic wallets. During payment operations by the payment service, customer compliance measures of the payer and recipient, as well as beneficial owners, and other related issues are carried out in accordance with the requirements of the laws of the Republic of Azerbaijan.

Under the new rules, registration is very easy. Users will authenticate themselves by adding a FIN code to their personal data. Detailed information will be sent to user numbers.