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Azerbaijan's payment card activity more than doubles

Finance Materials 22 June 2022 16:09 (UTC +04:00)
Azerbaijan's payment card activity more than doubles
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, June 22. Azerbaijan's payment card activity through ATMs and POS-terminals totaled 4.5 billion manat, or $2.6 billion (against 2.8 billion manat in the same period of 2021) in May 2022, Trend reports citing the Central Bank of Azerbaijan (CBA).

According to the CBA, this figure increased by 1.7 billion manat, or ($1 billion), or 60.95 percent on an annual basis.

The total number of payment card transactions amounted to 50.35 million (growth of 90.17 percent), out of which 4.84 million transactions worth 205 million manat ($120.6 million) were carried out abroad.

As many as 44.68 million debit card transactions worth 4.2 billion manat ($2.47 billion) have been carried out both within the country and abroad. Out of the total number, some 10.39 million transactions worth 2.35 billion manat ($1.38 billion) were carried out through ATMs within the country, whereas 11.66 million worth 428 million manat ($251.9 million) – through POS-terminals.

Bank customers executed 5.66 million transactions for a total of 313 million manat ($184.2 million) via credit cards (both within the country and abroad).

Some 390,000 transactions worth 71 million manat ($41.7 million) were implemented through ATMs, while 2.9 million transactions worth 122 million manat ($71.8 million) – through POS-terminals.

Number of payment cards in Azerbaijan increased by 2.047 million or 20.53 percent in the first five months 2022 and reached 12.019 million (against 9.9 million a year earlier).

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