Online money and cryptocurrencies in Azerbaijan

2025. AzWallet launched in Azerbaijan



A new payment system, AzWallet, has launched in Azerbaijan. This e-wallet allows you to send and receive money quickly, securely, and without commissions. You can also pay for utilities, internet, mobile phone service, and other services online. You can top up your balance with a card via a QR code. Users are provided with a mobile app (iOS, Android), which allows you to manage your finances from anywhere in the world.


2021. The Central Bank of Azerbaijan is in talks with PayPal



Recently, numerous websites reported that PayPal will soon be fully operational in Azerbaijan. Aykhan Gadashov, head of the Azexport portal, was the first to announce this. Currently, PayPal only supports sending payments in the country; receiving payments is not available. In response to a request for comment, Namik Aliyev, a representative of the Central Bank of Azerbaijan, stated that the Central Bank of Azerbaijan has requested PayPal to provide all payment services offered by PayPal in the country. He stated that work is currently underway to establish this cooperation. The public will be informed of the results, that is, if PayPal is fully operational in Azerbaijan.


2010. WebMoney comes to Azerbaijan



WebMoney payment system has launched direct deposits for WMZ and WME wallets through the offices of the local Bank Standard KB. Previously, Azerbaijani WebMoney users could transfer funds to their accounts in the system only through exchange offices and the dealer network. An agreement between WebMoney Transfer and Bank Standard KB CJSC, the second-largest bank in Azerbaijan, allows local users to deposit funds into their accounts in the system with a commission of 3% of the transaction amount. Previous methods for depositing funds into WM wallets involved an average commission of 5-10% for large amounts. "In the case of, say, a micro-deposit, the commission can increase to 50%," WebMoney representatives explain.