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Azerbaijan's turnover on payment cards notably grows

Finance Materials 31 March 2023 13:14 (UTC +04:00)
Azerbaijan's turnover on payment cards notably grows
Kamran Gasimov
Kamran Gasimov
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BAKU, Azerbaijan, March 31. The turnover on payment cards through ATMs and POS terminals in Azerbaijan notably increased as of March 1, 2023, Trend reports via the Central Bank of Azerbaijan (CBA).

According to the bank, this figure amounted to 6.02 billion manat ($3.54 billion), 2.2 billion manat ($1.29 billion) or 57.81 percent more than as of March 1, 2022 (3.8 billion manat or $2.2 billion).

The overall number of payment card transactions totaled 72.7 million manat or $42.7 million (83.6 percent growth for the year) out of which over 4.29 million transactions worth 213 million manat ($125.29 million) were carried out abroad.

As many as 65.08 million debit card transactions worth 5.6 billion manat ($3.29 billion) have been carried out both within the country and abroad. Over 11.36 million transactions worth 2.7 billion manat ($1.59 billion) were carried out through ATMs within the country, whereas 20.07 million transactions worth 610 million manat ($358.8 million) were through POS terminals.

Bank customers executed 7.6 million transactions for a total of 401 million manat ($235.8 million) via credit cards (both within the country and abroad).

Meanwhile, 409,000 transactions worth 82 million manat ($48.2 million) were carried out through ATMs within the country, while 3.9 million transactions worth 141 million manat ($82.9 million) – through POS terminals.

The number of payment cards in Azerbaijan as of March 1, 2023 increased by 2.1 million, or 18.41 percent, compared to the same period of the previous year and reached 13.6 million, compared to 11.5 million as of March 1 last year.

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