Vusal Khalilov, Deputy Governor of the Central Bank of Azerbaijan (CBA), held a videoconference meeting with Wang Lixin, Chief Business Development Officer of UnionPay International.
The meeting discussed the importance of expanding cooperation between the parties in the field of payment card issuance and strengthening the interoperability of QR code technologies. The meeting concluded with signing of a Memorandum of Understanding on cooperation.
The Memorandum aims to contribute to the creation of a legal framework for collaboration between the Central Bank and UnionPay International, foster ties and enhance interaction in the areas of issuance and processing of UnionPay cards, integration of cross-border money transfer systems, and the application of QR code and token technologies.
