Azerbaijani MilliKart’s processing centre’s annual turnover exceeds $820 million

Azerbaijan Materials 21 January 2013 12:57 (UTC +04:00)

Azerbaijan, Baku, Jan. 21 / Trend H. Valiyev /

The number of cards served in MilliKart processing centre's network has reached 236,000 units, a report published on Millikart's website said on Friday.

According to the processing centre, the total number of operations carried out in 2012 was approximately four million with turnover amounting to 650 million manat.

At present, around 12 banks are being served in MilliKart. They installed 333 ATMs and 6750 POS terminals.

Last year, the processing centre implemented a number of projects. The Instant Issuance project is the most significant. It envisages instant issuance of international payment cards and innovative product 'Bonus & Instalment'. Along with the general characteristics of a standard credit card, it has the ability of a non-interest payment for goods and services in instalments.

MilliKart with an authorised capital of four million manat was established on July 14, 2006 by 18 banks. In 2010, MilliKart's authorised capital was increased to five million manat. The European Bank for Reconstruction and Development (EBRD) became the nineteenth bank which joined the company. EBRD increased MilliKart's authorised capital by 500,000 manat and gained a 10 per cent interest in the company.

The official exchange rate is 0,7848 AZN/USD on Jan. 21.