BAKU, Azerbaijan, Feb. 10
By Zeyni Jafarov - Trend:
Some 908,000 payment transactions were carried out in Azerbaijan upon the international financial reporting standards (IFRS) in 2020, Trend reports on Feb. 10 citing the statistics report of the Central Bank of Azerbaijan (CBA).
The amount of one operation carried out upon IFRS in 2020 averaged 215,400 manat ($126,705), which is 17.1 percent less than in 2019.
Some 58.9 million transactions were carried out in 2020 (an increase in annual terms by 5.7 percent) through the settlement clearing system on small payments, in which the amount for one transaction is on average estimated at 472,400 manat ($277,882), which shows a decline in annual circulation by 0.6 percent.
The banks' receipts through high-speed money transfer systems in 2020 amounted to 1.6 billion manat ($941 million), which means a decline of 21.8 percent on an annualized basis.
About 982,000 transactions in the amount of 803.7 million manat ($472.8 million) were carried out upon non-bank money transfers, which is 13.4 percent less than in 2019.
The operations on debit and credit cards through ATMs and POS terminals in Azerbaijan reached 226.4 million worth 28.9 billion manat ($17 billion) in 2020, which is 24.6 percent more than in 2019.
----
Follow the author on Twitter: @jafarov_zeyni