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Number of bank cards in Azerbaijan rising - Central Bank

Economy Materials 14 September 2021 18:05 (UTC +04:00)
Number of bank cards in Azerbaijan rising - Central Bank

BAKU, Azerbaijan, Sept. 14

By Sadraddin Aghjayev - Trend:

The number of bank cards in circulation in Azerbaijan amounted to 10.4 million as of June 30, 2021, the Central Bank of Azerbaijan (CBA) told Trend.

According to the CBA, the number of bank cards is $5.4 million, or 51.9 percent of their total number.

The annual growth rate of the total number of cards amounted to 1.77 million units (16 percent), and contactless – over 1.24 million units (2.3 times), the CBA said.

The volume of non-cash payments in the first half of this year amounted to 4.5 billion manat ($2.64 billion), which is 55.6 percent (2.5 billion manat or $1.47 billion) more compared to the same period of 2020.

Accordingly, 55 percent, or 2.48 billion manat ($1.46 billion), accounted for e-commerce, 40 percent, or 1.8 billion manat, - the share of payments through POS terminals, and 5 percent, or 2.2 million manat ($1.3 million) - for payments via ATMs and payment terminals.

“The introduction of international security standards by Azerbaijani banks into the infrastructure of non-cash payments has further increased the interest and confidence of users in this area,” the CBA stressed.

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