Payment card turnover in Azerbaijan continues to rise

Finance Materials 31 May 2021 12:37 (UTC +04:00)
Payment card turnover in Azerbaijan continues to rise

BAKU, Azerbaijan, May 31

By Zeyni Jafarov - Trend:

The turnover on payment cards through ATMs and POS terminals in Azerbaijan in the first 4 months of 2021 made up 2.71 billion manat ($1.59 billion, rise of 39.8 percent on annual basis), Trend reports referring to the statistical report of the Central Bank of Azerbaijan (CBA).

According to the report, the total number of transactions with payment cards over the reporting period reached 25.28 million, a growth of 61.3 percent for the year, including 2.94 million transactions worth 125 million manat ($73.5 million) outside the country.

Meanwhile, 21.9 million transactions via debit cards worth 2.54 billion manat ($1.49 billion) were conducted both within the country and abroad, of which 7.62 million transactions worth 1.76 billion manat ($1.04 billion) were carried out through ATMs inside the country, and through POS terminals – over 5.6 million transactions worth 326 million manat ($191.7 million), the report said.

At the same time, bank customers carried out 3.36 million transactions on credit cards (both within the country and abroad) with a total value of 167 million manat ($98.2 million). Some 283,000 transactions worth 42 million manat ($24.7 million) were carried out using ATMs inside the country, and 1.79 million transactions worth 77 million manat ($45.3 million) - using POS terminals inside the country.

From January through April 2021, the number of payment cards has increased by 22.7 percent compared to the same period in 2020, reaching 9.9 million, added the report.

(1 USD = 1.7 AZN on May 31)


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