BAKU, Azerbaijan, January 9. The number of bank cards in Azerbaijan has increased by 23 percent in 2023 compared to the figure of 2022 and reached 16.6 million, said President of the Azerbaijan Bank Association (ABA) Zakir Nuriyev during the Azerbaijan Financial Forum on "Achievements and challenges", Trend reports.
"The country's increase in the number of cards amounted to 3.1 million, 95.4 percent of these cards allow contactless payments. Overall, more than 76 percent of payment cards in the country support this type of payment. More than 91 percent of payments made through POS terminals are contactless," he noted.
He also mentioned that 55.2 percent of payment card transactions in the country were cashless in the first 11 months of 2023.
"The volume of cashless card transactions from January through November 2023 amounted to 43.2 billion manat ($25.4 billion), which represents an increase of more than two times compared to the same period of 2022," he said.
Stay up to date with more news on Trend News Agency's WhatsApp channel