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Payments Startups in Azerbaijan

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Payments startups in Azerbaijan

There are 24 Payments startups in Azerbaijan which include M10, Payonix, CIB, MPAY, Portmanat. Out of these, 2 startups are funded, with 2 having secured Series A+ funding.

Here is the list of top Payments startups in Azerbaijan

1. M10

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Wallet-enabled money transfer and bill payment platform. Enables to access the application by password, FaceID, or fingerprint. Provides platform to send money through phones, top-up of wallet for card or terminal payments, payment with QR-code, utility bill payments for electricity, insurance payments, and more. Application is made available on Android platform.

Key facts about M10

  • Location: Nasimi (Azerbaijan)
  • Stage: Unfunded
  • Tracxn Score: 47/100 What is this?
  • Competitors Rank: 131 of 2,436 Competitors
QR-code-enabled online utility bill payments with money transfers. Enables to make utility, mobile, insurance, loan, and other payments, use the cashback earned to make these payments. Provides a contactless QR-code method to pay for groceries, and utilities, and collect all payment cards in a single app. Application is made available on Android and iOS platforms.

Key facts about Payonix

  • Founded Year: 2016
  • Location: Baku (Azerbaijan)
  • Stage: Unfunded
  • Tracxn Score: 46/100 What is this?
  • Competitors Rank: 2 of 34 Competitors

3. CIB

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Provider of multi-channel payment processing services. This company facilitates the collection of funds through various payment channels, including e-commerce platforms, payment links, QR codes, payment terminals, and mobile POS solutions. It enables businesses to accept payments from various sources and offers tools for payment tracking and analysis. The service includes support for various card types and provides 24/7 customer and technical support. Funds can be withdrawn to various bank accounts.

Key facts about CIB

  • Founded Year: 2017
  • Location: Baku (Azerbaijan)
  • Stage: Unfunded
  • Tracxn Score: 41/100 What is this?
  • Competitors Rank: 262 of 2,436 Competitors

4. MPAY

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Online platform offering utility bill payment solutions for consumers. It allows users to make various payments, including utility bills, mobile top-ups, and bank transfers, directly from their smartphones or computers. Platform offers several features, such as automatic payments, debt notifications, and NFC payments using compatible cards and smartphones.

Key facts about MPAY

E-wallet for individual and businesses everyday payments. Provides money transfers, automated payments, payments for utility, mobile, internet, cable TV, online shopping, loan payments, taxi services, insurance, charity, and more. Application is made available on Android, iOS, and AppGallery platforms.

Key facts about Portmanat

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