Baku:The Central Bank of Azerbaijan (CBA) has issued mandatory instructions to Mobile Payment Solutions LLC following the identification of several violations of legislative and regulatory requirements. This revelation came after an on-site inspection conducted by the CBA.
According to Azeri-Press news agency, the company has been directed to rectify the identified shortcomings. These corrective measures are in line with Article 48.2.4 of the Law “On the Central Bank” and Article 63.1 of the Law “On Payment Services and Payment Systems.”
Mobile Payment Solutions operates under the Portmanat brand and was granted an electronic money institution license in July 2024.