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Azerbaijan sees rise in volume of payment card transactions

Business Materials 6 June 2018 20:54 (UTC +04:00)

Baku, Azerbaijan, June 6

By Ilkin Shafiyev – Trend:

The turnover of payment card transactions carried out via ATMs and POS-terminals amounted to 1.36 billion manats in Azerbaijan in April 2018, which is by 23.19 percent more than in April 2017, said the report of the Central Bank of Azerbaijan (CBA).

According to the report, the total number of payment card transactions reached 8.96 million in April 2018 (21.2 percent-growth compared to April 2017).

The number of debit card transactions [both inside and outside the country] reached 7.88 million totalling 1.2 billion manats during the reporting period. Meanwhile, 4.84 million debit card transactions worth 952 million manats were carried out via ATMs, and 752,000 transactions worth 115 million manats via POS-terminals.

Customers of banks carried out about one million transactions on credit cards [both inside and outside the country] in April 2018 for a total of 161 million manats (335,000 operations for 68 million manats - via ATMs inside the country, 265,000 transactions for 36 million manats - POS-terminals inside the country).

The number of payment cards rose by 8.9 percent to over 6 million in April 2018 as compared to the same period of 2017.

Bulk of cards - about 5.27 million - is debit cards, including 2.51 million - social cards, 1.9 million - salary cards, and 0.86 million- others. The number of credit cards during the period hit 755,000.

As of May 1, 2018, 2,467 ATMs operated in the country, 1,325 of which are located in Baku and 1,142 – in other cities and districts of the country. The total number of ATMs has decreased by 26 units or 1.05 percent for the year.

As of late April 2018, the number of POS-terminals amounted to 65,262 in the country, 36,899 of which are installed in Baku and 28,363 in other cities and districts of the country.

The number of POS-terminals has decreased by 5,356 or 8.21 percent in Azerbaijan for the year.

($1 = 1.7 AZN on June 6).

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Follow the author on Twitter: @IlkinShafiyev

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