BAKU, Azerbaijan, March 3
By Zeyni Jafarov – Trend:
The number of Mastercard bank cards exceeded 9.2 million in Azerbaijan by the end of 2020, Erdem Cakar, head of the representative office of Mastercard in Azerbaijan, told Trend during an online event in March 3.
“This figure has increased over the past three years by 58 percent (from 5.8 million to 9.2 million),” Cakar added.
Payments via POS terminals reached 7.3 billion manat ($4.3 billion) by the end of 2020, having increased by more than 2.5 times for the year. The payment turnover through POS-terminals in the general structure of the card turnover accounted for 26 percent.
The volume of e-commerce in Azerbaijan, having greatly increased since 2017, reached 3.7 billion manat ($2.2 billion).
Cakar stressed during the event that Mastercard solutions will allow performing all banking operations, including ordering a bank card, without visiting bank branches soon.
“Mastercard plans to implement an Open Banking project in Turkey from 2022,” the head of the representative office said.
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