CBA grants license to new electronic money organization

The Central Bank of Azerbaijan (CBA) has issued a license to "GoldenPay" JSC, authorizing it to operate as an electronic money organization, Azernews reports.

By the Law "On Payment Services and Payment Systems," the CBA evaluates applications from organizations seeking licenses to provide payment services. Following the review process, the CBA's Board of Directors approved an indefinite license for "GoldenPay" JSC on July 17, 2024.

The CBA is continuing to assess other organizations that have applied for similar licenses.

Previously, the CBA has granted licenses to "A-Solutions," "United Payment," "Modenis," "PashaPay," "Mobile Payment Solutions," "Paysis," "PulPal" LLC, and "Mpay" JSC for electronic money organization activities. Additionally, "Token Azerbaijan," "Global Innovations," and "Drakaris" LLC have received indefinite licenses as payment organizations. With the addition of "GoldenPay," the total number of licensed organizations in this sector now stands at 12.