Bank of Azerbaijan has become a new partner of money transfer system Migom
International payment remittance system Migom has announced expansion of geographical presence.
According to the system, Migom has expanded its network of payment services to residents of Azerbaijan by signing of a partnership agreement with one of the domestic leader banks - Bank of Azerbaijan.
Using the services of payment system Migom, currently money can be transferred to 26 countries of near and far abroad at 18 service points of Bank of Azerbaijan throughout Azerbaijan. The speed of transaction is one minute. The settlements are conducted in two settlement centers: EUROTRUST CJSC and Migom CJSC.
Migom’s chairman of board Natalia Karachevtseva thinks that transactional corridor Russia-Azerbaijan is very important for business of the company.
According to the Bank of Russia’s turnover on trans-boundary transfers made via money transfer systems between the two countries amounted to $1.246 bn in 2011.
"Migom system has long-term plans on expansion of its network in this region due to federal operators and large partner banks,” it was informed.
Currently, Azerbaijan is numbering 430 offices on acceptance of payments of Migom system.