BAKU, Azerbaijan, Nov. 7
By Eldar Janashvili – Trend:
Today, the total number of BirKart cardholders is almost 65 percent of all installment card holders in the country, Azerbaijan’s leading Kapital Bank told Trend.
The number of BirKart card users exceeds 450,000, having increased by 200,000 customers since the beginning of this year (2.25 times).
Proceeding from these figures, it can be concluded that BirKart, involved in retail banking, is the most popular installment card in Azerbaijan, becoming the first unique card in the local market, said the bank.
“The card is popular among customers thanks to a number of advantages,” the bank noted.
In particular, BirKart achieved leadership in the installment card market thanks to the availability of a wide partner network of the product, including various stores selling clothes and shoes, household appliances and electronics, jewelry, cosmetics and perfumery, building materials, furniture, household goods and repair tools, as well as restaurants, supermarkets, centers rendering various services such as leisure and entertainment, insurance, education and many others.
Today, the BirKart network has more than 3,000 partners throughout the country including 830 partners operating in the districts, and their number is growing steadily.
Customers have the opportunity to make purchases and pay for services in interest-free installments in many well-known stores and outlets, as well as return part of the spent amount back to their account as a cashback thanks to these partners.
In general, the popularity of installment cards in the country is growing every day. Taking into account the fact that Azerbaijan is actively stimulating cashless payments, this trend will continue in the future.
“The introduction of new installment cards by major players in the banking sector, as well as great changes and improvement of existing ones, once again testify that the potential of this segment is not exhausted,” the message said. “Being the first bank in the country, Kapital Bank intends to develop in this sphere in the future."
The BirKart product, which combines many functions, envisages interest-free installments for up to 18 months, cashback from 1.5 percent to 30 percent, up to 40 days of an interest-free loan with lump-sum payments, accumulation of miles that can be exchanged for airline tickets, etc.
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