The total volume of transactions processed through Azerbaijan’s Real-Time Settlement System for Large-Value Payments (AZIPS), operated by the Central Bank of Azerbaijan, grew 36% year-on-year last year.
The rise in AZIPS transaction volume reflects more intensive use of the system for interbank and customer payments. AZIPS is Azerbaijan’s main settlement infrastructure for large-value payments processed in real time.
The system enables banks and other financial institutions to carry out urgent, high-value money transfers securely and promptly. The increase in transaction volume came amid broader growth in cashless settlements across the country.
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