The Central Bank of Azerbaijan (CBA) has approved a new regulatory framework governing payment transactions conducted via QR codes.
The decision was signed by CBA Chairman Taleh Kazimov and officially entered into force on December 4.
The document introduces several key definitions:
AZQR-code – a QR code generated for payments of goods, works, and services within Azerbaijan;
Static AZQR-code – contains permanent information relevant to payment operations;
Dynamic AZQR-code – contains variable information unique to each transaction;
AZQR-code provider – an entity operating in Azerbaijan that generates QR codes for payment transactions and/or provides users with the functionality to scan them.
Under the new rules, both static and dynamic AZQR-codes created by payment service providers must fully comply with technical requirements approved by the CBA Board. These standards will be published on the Central Bank’s official website.
QR-code providers may delegate code generation to third parties under contractual agreements, provided all requirements are met.
Each AZQR-code must be used strictly as intended and without modification. Providers must also ensure functionality for full or partial refunds on payments made via QR code.
Additionally, providers must supply payers with a receipt-either electronically or on paper—or enable easy retrieval of transaction details. Each receipt must include at minimum:
acquiring bank or payment system operator;
merchant name and taxpayer identification number;
receipt number;
date and time of the operation;
payment terminal code (if applicable);
payment amount and currency;
authorization code;
reference number allowing transaction identification.
Merchants must be informed of each transaction result. Settlements between payment providers for domestic AZN-denominated QR transactions will be processed through the Instant Payment System (AÖS).
The regulation was adopted on November 12, added to the State Registry on December 3, and took effect on December 4.
Source: Trend
