Azerbaijan records growth of payment card turnover for 1Q2021

Finance Materials 29 April 2021 12:25 (UTC +04:00)
Azerbaijan records growth of payment card turnover for 1Q2021

BAKU, Azerbaijan, Apr.29

By Zeyni Jafarov - Trend:

The turnover on payment cards through ATMs and POS terminals in Azerbaijan in the first quarter of 2021 made up 2.6 billion manat ($1.5 billion, rise of 16.9 percent on annual basis), Trend reports referring to the statistical bulletin of the Central Bank of Azerbaijan (CBA).

According to the bulletin, the total number of transactions with payment cards over the reporting period reached 27.9 million, a growth of 50.6 percent for the year, including 3 million transactions worth 140 million manat ($82.3 million) outside the country.

Meanwhile, 24.4 million transactions via debit cards worth 2.44 billion manat ($1.44 billion) were conducted both within the country and abroad, of which 9.18 million transactions worth 2.13 billion manat ($1.25 billion) were carried out through ATMs inside the country, and through POS terminals – over 5.8 million transactions worth 317 million manat ($186.4 million), said the bulletin.

At the same time, bank customers carried out 3.47 million transactions on credit cards (both within the country and abroad) with a total value of 189 million manat ($111.1 million). Some 265,000 transactions worth 39 million manat ($22.9 million) were carried out using ATMs inside the country, and 1.84 million transactions worth 95 million manat ($55.8 million) - using POS terminals inside the country.

From January through March 2021, the number of payment cards increased by 24.4 percent compared to the same period in 2020, reaching 9.77 million, added the bulletin.

(1 USD = 1.7 AZN on Apr.29)


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