Azerbaijan's Central Bank approves "Enhanced Customer Authentication" regulation for payment services.

Azerbaijan's Central Bank (CBA) has approved the "Procedure for the Implementation of Enhanced Customer Authentication" regulation. Based on Article 35 of the Republic of Azerbaijan's Law "On Payment Services and Payment Systems", it outlines when ECA is not needed and requirements for ECA when using payment service providers. Payment service providers must be audited annually by their internal audit service, with audit reports submitted to the CBA by January 15th each year.

April 05, 2024
4 Articles