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Azerbaijan sees surge in turnover from payment cards

Finance Materials 26 July 2022 18:02 (UTC +04:00)
Azerbaijan sees surge in turnover from payment cards
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, July 26. Volume of turnover on payment cards through ATMs and POS-terminals in Azerbaijan, in June 2022, increased over the year by 1.7 billion manat ($1 billion), or 72.8 percent - from 2.9 billion manat ($1.7 billion) to 5.02 billion manat ($2.9 billion), Trend reports with reference to the Central Bank of Azerbaijan (CBA).

According to CBA, the total number of transactions on payment cards amounted to 52.9 million (an increase of 89.7 percent over the year), including 4.6 million transactions worth 217 million manat ($127.6 million) were carried out abroad.

The number of debit card transactions (both within the country and abroad) amounted to 47.06 million in the amount of 4.6 billion manat ($2.7 billion), of which 10.3 million transactions in the amount of 2.5 billion manat ($1.4 billion) were carried out through ATMs within the country, and through POS- terminals within the country - 13.3 million transactions in the amount of 490 million manat ($288.2 million).

Bank customers carried out 5.9 million transactions for a total of 333 million manat ($195.8 million) on credit cards (both within the country and abroad).

At the same time, 400,000 transactions worth 78 million manat ($45.8 million) were carried out through ATMs within the country, and 3.2 million transactions worth 128 million manat ($75.2 million) were carried out using POS-terminals.

The amount of payment cards in Azerbaijan increased by 2.1 million or 21.8 percent in first half 2022 compared to the same period last year and reached 12.2 million against 10.05 million a year earlier.

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