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MasterCard registers high interest of Azeri banks to use plastic installment cards

Business Materials 28 December 2013 16:45
The international payment system MasterCard registers the high interest of Azeri banks to use the plastic installment (taksit) cards.

Azerbaijan, Baku, Dec. 17/corr. Trend A. Akhundov/

The international payment system MasterCard registers the high interest of Azeri banks to use the plastic installment (taksit) cards.

This was told Trend by Hakan Acar, regional manager of MasterCard in Azerbaijan.

"2013 was very successful for us. In particular, a dramatic increase in the use of credit cards has become the characteristic feature in the market for payment cards. This is due to the fact that the installment cards, introduced to the market in late 2012, have begun to be actively used during 2013. Significant progress has been made in replacing cash funds in circulation with cashless ones, the number of cards has increased, as well as the number of outlets involved in the installment campaign" - said Acar.

According to him, many banks are actively working with installment campaigns today in Azerbaijan.

"Both, other banks and customers are greatly interested. Baku population is interested in the use of credit cards in the places where it will get bonuses for", - said the regional manager of MasterCard.

According to the Central Bank of Azerbaijan, for 10 months in 2013 the number of payment cards in the country has increased by seven percent - to 5.36 million units, credit cards - doubled to 800,000.

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