BAKU, Azerbaijan, February 14. A total of 337,300 transactions worth 549.6 million manat ($323.2 million) were carried out through the instant payment system of the Central Bank of Azerbaijan (CBA) in 2022, Trend reports via the CBA.
According to the CBA's review of payment systems, in January and February, this figure amounted to 31 million manat ($18.2 million), March – 35 million manat ($20.5 million), April – 43 million manat ($25.2 million), May – 39.1 million manat ($23 million), June – 45.6 million manat ($26.8 million), July – 50.4 million manat ($29.6 million), August – 50.2 million manat ($29.5 million), September – 47.6 million manat ($28 million), October – 45.2 million manat ($26.5 million), in November – 49.8 million manat ($29.2 million), and in December - 81.8 million manat ($48.1 million).
According to the CBA, great efforts are being made on expanding the system's functionality. Thus, 2021 witnessed the possibility of making non-cash payments through the QR code. The main advantage of it is the direct payment through bank accounts.
The payment method through the QR code is considered to be more efficient for secure daily payments.
Currently, 24 banks, Azerpost LLC, the State Treasury Agency of Azerbaijan under the Ministry of Finance, and Azerbaijan's Mortgage and Credit Guarantee Fund Azerbaijan are integrated into the instant payment system.