The Central Bank of Azerbaijan (CBA) has issued a mandatory order to the electronic money (e-money) institution, Algoritma LLC. In addition to the issuance of electronic money and the implementation of payment transactions with electronic money, electronic money institutions may also provide other payment services if provided for in their licenses. Currently, according to the CBA's register, there are 15 e-money institutions operating in Azerbaijan. These are A-Solutions Electronic Money Organization LLC, United Payment LLC, PashaPay LLC, Mobile Payment Solutions LLC, Mpay LLC, PulPal LLC, Goldenpay LLC, K GROUP LLC, Payriff LLC, Cuzdan LLC, Tiko Azerbaijan LLC, Baku Pay LLC, Algoritma LLC, CIBPAY LLC, and Multi Solutions LLC. In addition, according to the CBA, the licenses of the electronic money institutions Greentek Group LLC, Guavapay LLC, Azvvallet LLC, and Paysis LLC have been revoked.