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IDEX Biometrics is accelerating biometric payment cards with banking partner in Azerbaijan
IDEX Biometrics is partnering with a leading Azerbaijani bank to bring biometric payment cards to Eastern Europe, revolutionizing the payment experience in this rapidly expanding market. The bank operates across Azerbaijan and collaborates with a network of international banks and institutions serving multinational and domestic companies as well as individual customers.
The Azerbaijan payment market has demonstrated remarkable progress over the last decade, reaching a market size of $6.3 billion in 2021 and projected to grow at a CAGR of 28% by 20251. As electronic payment acceptance continues to surge, banks have been at the forefront, launching innovative loyalty programs, contactless, and mobile payments. Anticipating the next market break-through, Azerbaijan is now poised to introduce cutting-edge and next-generation contactless cards with biometric authentication.
”IDEX Biometrics is thrilled to bring biometric payments cards to the Azerbaijani market, reasserting the growing demand for biometric solutions in Eastern Europe,” says Catharina Eklof, Chief Commercial Officer at IDEX Biometrics. “We are excited to contribute to enhancing digital banking solutions and improving the payment experience in this rapidly expanding market.”
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