Payment card turnover increases in Azerbaijan

Business Materials 7 December 2016 12:43 (UTC +04:00)

Baku, Azerbaijan, Dec. 7

By Anvar Mammadov – Trend:

The total turnover on payment cards via ATMs and POS-terminals amounted to 1.07 billion manat (official exchange rate on Dec. 7 is 1.7369 AZN/USD) in Azerbaijan in October 2016 or by 4 percent more than in October 2015, said the Azerbaijani Central Bank’s report.

According to the report, the total number of transactions with payment cards reached almost 7.11 million units decreasing by 4.01 percent for the year.

The number of transactions on debit cards reached 6.26 million units totaling 939 million manat during the reporting period.

Of the total number of transactions, 4.6 million transactions amounting to 804 million manat were implemented on debit cards via ATMs within the country, and around 423,000 transactions amounting to 76 million manat via POS-terminals.

As much as 847,000 transactions worth 132 million manat were made on credit cards in October 2016.

Of the total number of transactions on credit cards, 169,000 transactions worth 48 million manat were implemented via ATMs and there were 256,000 transactions worth 31 million manat via POS-terminals.

The number of payment cards in Azerbaijan decreased by 6.2 percent in October 2016 and reached up to 5.33 million units compared to October 2015.

Of the total number of cards, 4.64 million units accounted for debit cards, in particular, 2.51 million - social cards, 1.51 million - salary cards, 0.62 million - other cards. The number of credit cards was 688,000.

As of November 1, 2016, as many as 2,442 ATMs operated in the country of which 1,316 are located in Baku and 1,126 in other cities and districts of the country. The total number decreased by 269 units or 9.9 percent for the year compared to October 2015.

The number of POS-terminals amounted to 68,152 units of which 38,289 are installed in Baku and 29,863 units in other cities and districts as of late October 2016.

The number of POS-terminals has decreased by 8,780 units or 11.4 percent for the year.

Some 32 banks, including two state-owned banks, operated in Azerbaijan in October.