Azerbaijan’s Ministry of Economy has proposed amending the law “On Electronic Commerce” to classify mobile phones and other end-user devices running the right software as POS terminals.
The proposal to broaden the legal definition of a POS terminal was presented by Kamran Ahmadov, deputy head of the Ministry of Economy’s executive office, at a meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship. He said current legislation defines a POS terminal narrowly, as dedicated equipment used solely for processing payment card transactions.
Under the draft amendment, the definition would be expanded to cover all forms of cashless payment, including contactless transactions. Ahmadov said the goal is to align the existing legal definition with the realities of modern payment technology.
Going forward, not only specialised devices but also mobile phones and other end-user devices equipped with the relevant software would be recognised as POS terminals. Ahmadov added that the change would also help eliminate inconsistencies between existing regulatory acts.
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