Baku, December 6 – Visa Inc. (NYSE: V) announced today the launch of Visa Zero liability in Azerbaijan – the policy that is designed to protect consumers from unauthorized transactions. This policy gives cardholders more confidence to pay anytime, anywhere for anything using Visa cards — knowing they are protected on their transactions. International Bank of Azerbaijan became the 1st in the country roll-out Visa Zero liability in cooperation with Visa.
Fear of fraud is considered to be a primary barrier to card usage. Visa's Zero Liability protects cardholders against fraud, it addresses this barrier giving cardholders greater confidence to use their cards.
On the country level, the launch of Visa Zero Liability Policy helps to support strategic initiatives related to displacing cash and promoting digital payments and purchases in new channels such as mobile payments. This is a step forward for Azerbaijan, where electronic payments demonstrate dynamic growth and development during recent years.
"Safety and fraud protection are the most important payment needs across a wide range of countries. That leads us to continue development of an innovative and more secure technologies. With Visa Zero liability launch in Azerbaijan our consumers can make purchases almost anywhere and feel very well protected," said Igor Kovaliov, Visa Regional Manager in Azerbaijan, Moldova and Belarus. "Zero Liability Policy is an important layer of our fraud prevention efforts worldwide and we are sure that its implementation in Azerbaijan will give our consumers one more reason to use a Visa card with confidence and will contribute to the development of cashless consumer experience in Azerbaijan".
‘’This innovation will attract customers’ interest and increase the number of card users. This joint program will also have a positive effect on the development of electronic payments in Azerbaijan,’ commented Eltakin Rahimov, Head of Electronic Payments Division of the IBA.
About Visa Inc.:
Visa Inc. (NYSE:V) is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable electronic payments. We operate one of the world's most advanced processing networks — VisaNet — that is capable of handling more than 65,000 transaction messages a second, with fraud protection for consumers and assured payment for merchants. Visa is not a bank and does not issue cards, extend credit or set rates and fees for consumers. Visa's innovations, however, enable its financial institution customers to offer consumers more choices: pay now with debit, pay ahead of time with prepaid or pay later with credit products . For more information, visit: www.visasoutheasteurope.com, www.visa.com.az, https://www.facebook.com/visaazerbaijan, Visa CISSEE Newsroom.
For more information on products and services of the IBA, please visit the official website www.ibar.az, any of 35 branches and 43 sub branches of the bank, or call the Information Center by number (012) 937 and *2265.
Corporate Communications manager Visa, CISSEE
tel.: +38044 22 00 300
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