Visa announced the launch of Visa Zero liability in Azerbaijan – the policy that is designed to protect consumers from unauthorized transactions. This policy gives cardholders more confidence to pay anytime, anywhere for anything using Visa cards — knowing they are protected on their transactions. International Bank of Azerbaijan became the 1st in the country roll-out Visa Zero liability in cooperation with Visa.
Fear of fraud is considered to be a primary barrier to card usage. Visa’s Zero Liability protects cardholders against fraud, it addresses this barrier giving cardholders greater confidence to use their cards.
On the country level, the launch of Visa Zero Liability Policy helps to support strategic initiatives related to displacing cash and promoting digital payments and purchases in new channels such as mobile payments. This is step forward for Azerbaijan, where electronic payments demonstrate dynamic growth and development during recent years.
According to IBA bank this innovation will attract an interest of customers and increase the numbers of card users. This joint program will also have positive effect on the development of electronic payments in Azerbaijan.