...

VISA stresses positive trends in Azerbaijani plastic card market

Business Materials 22 September 2012 10:23
International payment system VISA stresses positive trends in the Azerbaijani plastic card market, director general for Eastern Europe and the CIS Jean-Marc Tonti told Trend in Baku today.
VISA stresses positive trends in Azerbaijani plastic card market

Azerbaijan, Baku, Sept. 21 / Trend A. Akhundov /

International payment system VISA stresses positive trends in the Azerbaijani plastic card market, director general for Eastern Europe and the CIS Jean-Marc Tonti told Trend in Baku today.

"One of the main obstacles to the development of this market in Azerbaijan is the lack of development of the card network," he said. "Two or three years ago, the network was ineffective in Azerbaijan. Most shops did not accept credit cards. This situation, especially in Baku, has been changed today. The main goal is to develop the network today."

He said that the second main objective is to change people's attitude to non-cash settlements.

"The second problem is to change the mentality and raise literacy in this area," he said. "The Azerbaijani society is focused on cash, only five percent of the purchase-sale transactions are conducted by non-cash methods. We need to educate people and to convince them that using plastic cards is safer and more comfortable."

He added that the Azerbaijani market of plastic cards does not differ much from the markets of the neighboring countries.

"This market is connected with the debit cards, as in other CIS countries - Russia, Kazakhstan, that is, mostly payroll and social cards," he said. "While the market is developing, new and more mature products - credit cards, corporate cards for businessmen, premium cards - for the rich people appear."

Latest

Latest