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Azerbaijan sees substantial growth in payment card turnover

Finance Materials 24 May 2022 16:41 (UTC +04:00)
Azerbaijan sees substantial growth in payment card turnover
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, May 24. Payment card turnover through ATMs and POS-terminals totaled 4.19 billion manat, or $2.47 billion (against 2.711 billion manat in the same period of 2021) in Azerbaijan from January through April 2022, Trend reports citing the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure increased by 1.48 billion manat, or ($875.8 million), or 54.89 percent on an annual basis.

The total number of payment card transactions amounted to 45.34 million (growth of 79.33 percent), out of which 4.29 million transactions worth 164 million manat ($96.5 million) were carried out abroad.

As many as 40.25 million debit card transactions worth 3.9 billion manat ($2.29 billion) have been carried out both within the country and abroad. Some 9.38 million transactions worth 2.19 billion manat ($1.28 billion) were carried out through ATMs within the country, whereas 10.38 million transactions worth 407 million manat ($239.5 million) – through POS-terminals.

Bank customers executed 5.09 million transactions for a total of 270 million manat ($158.9 million) via credit cards (both within the country and abroad).

Some 361,000 transactions worth 63 million manat ($37.08 million) were carried out through ATMs, while 2.62 million transactions worth 103 million manat ($60.6 million) – through POS-terminals.

Number of payment cards in Azerbaijan increased by 2.003 million or 20.24 percent in the first four months 2022 compared to the same period in 2021.

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