BAKU, Azerbaijan, February 13. Azerbaijan made four million payments worth 85.7 million manat ($50.4 million) via Google Pay in 2022, Trend reports citing the "Review of payment systems" of the Central Bank of Azerbaijan.
Efforts for greater engagement with international card organizations and the introduction of innovative payment solutions in the country were underway in 2022.
In the reporting year, following the Central Bank's initiative, as well as the support from the banking sector and international card organizations, Google Pay was activated in the country to increase contactless payment solutions and introduce innovative technology, the review noted.
The Google Pay function is currently available in Azerbaijan's Kapital Bank, International Bank of Azerbaijan, Unibank, Bank Respublika, PASHA Bank, Leobank, Rabitabank, Xalq Bank, Premium Bank, Yelo Bank, and Expressbank.
Cashless payments in Azerbaijan totaled 58.56 billion manat ($34.4 million) in 2022, up by 56.26 percent or 21.1 billion manat ($12.4 billion) compared to 2021.