Azerbaijan sees surge in turnover from payment cards

Finance Materials 25 April 2022 10:21 (UTC +04:00)
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, April 25. Turnover on payment cards through ATMs and POS-terminals increased in 1Q 2022, in Azerbaijan, over the year by 1.3 billion manat ($766.4 million), or 41.67 percent - from 3.12 billion manat ($1.83 billion) to 4.43 billion manat ($2.6 billion), Trend reports with reference to Central Bank of Azerbaijan Republic (CBAR).

According to CBAR, total number of transactions on payment cards amounted to 47.6 million (increase of 70.6 percent over the year), including 4.4 million transactions worth 185 million manat ($108.8 million) were carried out abroad.

Number of debit card transactions (both within country and abroad) amounted to 42.3 million in the amount of 4.14 billion manat ($2.43 billion), of which 10.39 million transactions were carried out through ATMs within country in the amount of 2.39 billion manat ($1.4 billion) and through POS-terminals within countries - 10.78 million transactions in the amount of 432 million manat ($254.1 million).

Bank customers carried out 5.25 million transactions for a total of 284 million manat ($167 million) with credit cards (both within country and abroad).

At the same time, 353,000 transactions worth 55 million manat ($32.3 million) were carried out through ATMs within country, 2.77 million transactions worth 122 million manat ($71.7 million) - using POS-terminals.

Number of payment cards in Azerbaijan increased by 2.002 million manat ($1.17 million), or 20.49 percent in 1Q2022, compared to the same period last year and reached 11.77 million manat ($6.92 million) against 9.76 million manat ($5.74 million) a year earlier.