The Board of the Central Bank of Azerbaijan (CBA) has approved the "upper limit of interchange (service fee tariffs) applied among participants of payment systems".
In this regard, CBA Chairman Taleh Kazimov has signed a new decision.
According to the decision, the upper limit of interchange applied among participants of payment systems for payments made with payment cards within the country under the following MCC codes (a code assigned by the acquirer to an economic entity for classifying its field of activity) is as follows:
- 1.25% of the payment amount for payments made under MCC codes belonging to the "Drug Stores and Pharmacies" and "Grocery Stores and Supermarket" categories;
- 0.75% of the payment amount for payments made under MCC codes belonging to the "Petrol" category;
- 1.5% of the payment amount for payments made under MCC codes belonging to the "General" category.
- for payments made with payment cards within the country under other MCC codes, the upper limit of interchange applied among participants of payment systems is not determined.
The decision comes into force on June 1 this year.
The Legal Support Department of Financial Markets of the CBA has been instructed to submit this Decision to the Ministry of Justice within 3 days for inclusion in the State Register of Legal Acts.
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