Economy Interview 13 October 2026 16:17 (UTC +04:00)
BAKU, Azerbaijan, October 13. Azerbaijan and Türkiye possess significant opportunities to expand cooperation in the field of financial technology, accelerate money transfers, and integrate payment systems based on QR codes, a representative of Tiko Azerbaijan LLC, Ismail Bayraktar, told Trend in an interview.
According to him, money transfers between the two countries constitute one of the key areas of cooperation in the fintech sector. Implementing digital solutions in this area could enable faster and more secure transfers.
Bayraktar noted that there is substantial potential for the development of financial transactions between Azerbaijan and Türkiye, involving both business-to-business (B2B) and consumer-to-consumer (C2C) interactions.
"There are significant opportunities regarding money transfers between the two countries. Fintech companies can contribute to making these processes faster and more secure. Improving transactions for both businesses and individuals could yield mutual benefits," he said.
The representative also identified the integration of payment systems via QR codes as a promising area for cooperation. According to him, while interest in such payments is growing in both countries, there are differences between the existing systems.
"The mutual integration of QR payment systems could create significant opportunities. It would enable people to make convenient payments using QR codes while in the other country. Achieving this might require resolving regulatory issues or developing specialized technological solutions," Bayraktar emphasized.
He also noted the progress observed in the field of digitalization in Azerbaijan. Bayraktar noted that technologies capable of competing in the global market have been developed in the country, and business processes are evolving in line with international standards.
"Significant development is evident in Azerbaijan. Technologies capable of competing globally are already in place, and business processes align with international standards. The steps taken toward digitalization are creating new opportunities and could pave the way for further expanding cooperation in this area in the future," he added.