BAKU, Azerbaijan, June 13. Non-cash payments in Azerbaijan using ApplePay and GooglePay amounted to 327 and 107 million manat ($192.3 and $62.6 million), respectively, from January through May, Director General of the country's Central Bank Farid Osmanov said during a financial technology summit in Baku, Trend reports.
According to him, the number of payment cards in Azerbaijan has increased by 18 percent (up to 14.5 million cards) as of the beginning of May.
"Over 70 percent of these cards are contactless. I want to note that the volume of non-cash payments increased by 2 times and amounted to 12.2 billion manat ($7.1 billion) from January through May. The weight of non-cash payments in total turnover increased by 11.8 percent (up to 52 percent)," he said.
The volume of non-cash payments in Azerbaijan amounted to 58.56 billion manat ($34.45 billion) in 2022, which is 21.1 billion manat ($12.4 billion) or 56.26 percent more than in 2021. A total of 562.1 million transactions worth 54.2 billion manat ($31.8 billion) were carried out through debit cards (an increase of 54.9 percent), and 80.8 million transactions worth 4.3 billion manat ($2.5 billion) through credit cards (an increase of 78.3 percent).