Payment card turnover in Azerbaijan continues to grow

Finance Materials 25 February 2021 17:29 (UTC +04:00)
Payment card turnover in Azerbaijan continues to grow

BAKU, Azerbaijan, Feb. 25

By Zeyni Jafarov - Trend:

The turnover on debit and credit cards through ATMs and POS terminals in Azerbaijan amounted to over 2.2 billion manat ($1.3 billion) in January 2021, which is by 18.5 percent more compared to January 2020, Trend reports citing the statistical bulletin of the Central Bank of Azerbaijan (CBA).

According to the bulletin, the total number of transactions with payment cards during the mentioned period reached 20.94 million, an increase of 30 percent for the year, including 2.79 million transactions worth 123 million manat ($72.3 million) outside the country.

Some 18.1 million transactions via debit cards worth 2.09 billion manat ($1.23 million) were conducted both within the country and abroad, of which 6.01 million transactions worth over 1.4 billion manat ($820 million) were carried out through ATMs inside the country, and through POS terminals – over 4 million transactions worth 232 million manat ($136.4 million), said the bulletin.

At the same time, bank customers carried out 2.84 million transactions on credit cards (both within the country and abroad) with a total value of 150 million manat ($88.2 million). Some 235,000 transactions worth 36 million manat ($21.18 million) were carried out using ATMs inside the country, more than 1.3 million transactions worth 63 million manat ($37 million) - using POS terminals inside the country.

In January 2021, the number of payment cards increased by 22 percent compared to the same month in 2020, reaching 9.41 million, the bulletin added.

(1 USD = 1.7 AZN on Feb. 25)


Follow the author on Twitter: @jafarov_zeyni