Bir Showcases Azerbaijan’s Cash-to-Digital Transformation at Money20/20 Middle East in Riyadh

Bir, the Caucasus’ first fully integrated banking, payments and e-commerce ecosystem, brought its mission to transform daily consumer habits in Azerbaijan, to Money 20/20 Middle East this week.

Farid Huseynov, Head of the Bir ecosystem, spoke at Money 20/20 in Riyadh, highlighting Bir’s key role in helping Azerbaijan transition to a digital economy by providing a rewarding experience for more than 5 million ecosystem users, who represent more than half of the country’s population. He spoke across the Executive, Bridge and Off-the-Record stages, joined by senior executives from leading tech and financial companies, including Google, Deutsche Bank, and BlackRock, for discussions on building intelligent financial institutions, scaling fintech businesses and mapping out the future of payments.

Drawing on Bir’s experience in a market where cash remains deeply embedded in everyday behaviour, Farid Huseynov highlighted the importance of building trust and taking into account users’ different comfort levels with new technologies. Bir combines digital services such as the Birbank banking app and m10 digital wallet with physical infrastructure, including Milliön payment terminals, which allow customers to use cash for bill payments, helping them gradually transition to the digital space. A similar approach extends to people with hearing impairments and older users, as Bir offers in-app accessibility features and continued bank branch-based customer support.

Farid Huseynov, Head of Bir, commented: “Money20/20 is one of the world’s leading global platforms, focused on the cutting-edge of tech and financial services. I was delighted to provide our perspective across several discussion sessions in Riyadh, highlighting Azerbaijan’s vast potential, the ongoing digitalisation of our economy and the key role Bir is playing in transforming everyday experiences - from shopping to domestic and cross-border money transfers, to paying for public transport. It’s been great to see a strong turnout at this event, and share ideas with like-minded leaders from the world’s top tech and financial services institutions.’’

The conference drew more than 30 000 attendees across three days of events, showcasing key industry themes, such as embedded finance, changing customer expectations, scaling fintech across borders and moving from AI testing to implementation in financial services. Bir provided a unique perspective, highlighting the challenges and opportunities of building an integrated ecosystem in a country with immense growth potential in the digital space.

About Bir

Bir is the first fully integrated banking, payments and e-commerce ecosystem of the Caucasus, redefining how people and businesses interact with daily services in Azerbaijan. Launched in 2025 to unite the country’s leading brands, including Birbank, Birmarket e-commerce platform, Milliön payment terminals, and m10 e-wallet app, the Bir ecosystem reaches over 5 million users. Through its extensive ecosystem and strategic partnerships with Trendyol marketplace and BakiKart transportation payment solution, Bir is building the foundation for Azerbaijan’s first and largest digital ecosystem for consumers and businesses.

For more information, visit: //bir.az