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Azerbaijan sees increase in non-cash payments, amount of payment cards in use

Finance Materials 5 August 2021 14:31 (UTC +04:00)
Azerbaijan sees increase in non-cash payments, amount of payment cards in use

BAKU, Azerbaijan, Aug. 5

By Zeyni Jafarov - Trend:

There is a positive trend in Azerbaijan in terms of the number of payment cards and indicators of non-cash payments, the Central Bank of Azerbaijan (CBA) told Trend.

The number of payment cards in circulation was 10.4 million while 52 percent of them supported contactless payments as of July 1, 2021. Their number increased by 16 percent compared to the same period of 2020, including contactless payments - 2.3 times.

About 88 percent (9.2 million) of the issued payment cards accounted for debit cards, 12 percent (1.2 million) - for credit cards.

The volume of transactions on payment cards within the country increased by 22.3 percent on an annualized basis and amounted to 15.9 billion manat ($9.3 billion), non-cash payments increased by 55.6 percent to 4.5 billion manat ($2.6 billion) in the first half of 2021.

In general, the share of non-cash payments in transactions with payment cards within the country increased for the year by six percent and amounted to 28.1 percent.

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