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15 March 2013

Migom plans to provide for partners a right to set their own fee for money transfer via system

International payment remittance system Migom is renewing its pricing policy.

Today in Baku Migom’s chairman of board Natalia Karachevtseva has said that Migom system plans to offer for its partners a tool of independent tariff regulation, depending on the situation on the ground.

"Currently the system applies a single tariff for transfers between any two points of service," she emphasized.

According to Karachevtseva, by its status in Russia, today Migom is close to socially significant international payment system. It has 27 transaction corridors (directions on countries), where it has 450 partner organizations.

During the year it plans to establish partnership with 10 more organizations in Azerbaijan, in addition to the 27 existing ones in the country - 26 banks and Azerbaijan Mail (Az?rpo?t Ltd). The system is available with 600 points in Azerbaijan, 200 of which account for the postal operator.

By this summer Migom expects to double the number of points of access in the country.

According to the Central Bank of Russia, in 2012 turnover on money transfers between Russia and Azerbaijan amounted to $1.5 bn and Migom was Top 3 of remittance systems via which such transfers were carried out. Speech can go about $300 million of our turnover with Azerbaijan over the past year," Karachevtseva said.

Local leaders on the volume of transfers via this system are Bank Respublika, International Bank of Azerbaijan, Bank Technique.


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