Azerbaijan · Horizon published 19 Oct 2026 · Source published 1 May 2026 · Reviewed 19 Oct 2026
Azerbaijan extends its Open Banking ecosystem to two electronic-money institutions
Azerbaijan’s Central Bank reported that Mpay and Goldenpay (Pulz) joined the Open Banking ecosystem alongside commercial banks. The development gives fintech, payment and enterprise teams a more concrete basis for mapping regulated participants, service roles and integration hypotheses in the Azerbaijani market.
Verified facts
- The Central Bank of Azerbaijan announced on 1 May 2026 that Mpay and Goldenpay (Pulz), two electronic-money institutions, had joined the country’s Open Banking ecosystem alongside commercial banks.
- The Central Bank stated that the integration supports account-management and financial-information functions for users, while work continues to expand the ecosystem to further participants.
- Open Banking network-channel requirements entered into force in December 2024 and cover payment-account-information, payment-transaction mediation and open-data use cases between supervised participants.
- The Central Bank’s 2026 digital-payments update reported further licensing of electronic-money institutions, payment institutions and a payment operator during 2025, providing wider market-structure context for the named implementation.
- World Bank financial-sector technical-assistance material provides independent context on Azerbaijan’s work on financial inclusion, consumer protection, market conduct and digital-financial-services oversight. It does not verify the terms, availability or commercial outcome of the named Open Banking integration.
Horizon view
The announcement is a useful implementation signal because it identifies named non-bank participation rather than only a policy ambition. The commercial question remains use-case specific: which customer journey, regulated role, consent model, interface, settlement sequence and participating counterparty a proposed service requires.
Commercial implication and next step
Payment, fintech and enterprise teams should start with a defined workflow, such as account aggregation, payment initiation, reconciliation or merchant collection. Build a participant map covering the licensed entity, its actual permitted activity, bank or operator relationship, consent and data path, interface conditions, settlement and reconciliation steps, commercial owner, support model, security responsibilities, customer proposition and pilot success criteria. Use the current register and direct written confirmation from relevant parties before positioning an integration or commercial offer.
What to verify before acting
The cited material does not establish access for another provider, an API agreement, customer-data permission, commercial pricing, merchant contract, bank sponsorship, foreign-provider eligibility, settlement completion, product approval or transaction. This is not Azerbaijan banking, payments, data-protection, AML/CFT, tax, sanctions or legal advice.
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