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Azerbaijan records increase in foreigners' payments via bank cards

Finance Materials 3 February 2023 10:46 (UTC +04:00)
Azerbaijan records increase in foreigners' payments via bank cards
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, February 3. Foreign citizens residing in Azerbaijan spent 190.5 million manat ($112.06 million) via bank cards in December 2022, Trend reports citing the country's Center for Analysis of Economic Reforms and Communication.

According to the center, this figure is 10.95 percent, or 18.8 million manat ($11.06 million), more than in November 2022.

Foreign bank card transactions in Azerbaijan totaled 2.2 billion manat ($1.2 billion) in 2022.

Overall, the volume of non-cash payments amounted to 58.5 billion manat ($34.4 billion) in 2022, which is 56.26 percent, or 21.1 billion manat ($12.4 billion) higher than in 2021.

According to the CBA, a total of 562.1 million transactions worth 54.2 billion manat ($31.8 billion) were carried out through debit cards (an increase of 54.9 percent), and 80.8 million transactions worth 4.3 billion manat ($2.5 billion) through credit cards (an increase of 78.3 percent).

The number of payment cards in circulation equaled 13.2 million as of January 1, 2023, which is 20.1 percent more than in 2021. The growth of debit cards was 18.7 percent, and that of credit cards - 29.4 percent.

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