BAKU, Azerbaijan, January 25. The volume of transactions using cards of Azerbaijani banks in Türkiye reaches approximately $2 billion per year, according to the head of the Central Bank of Azerbaijan's (CBA) national payment systems development and oversight department, Ramil Mahmudov during an event on "non-tariff barriers in trade" held in Baku, Trend reports.
"The CBA regularly receives complaints from entrepreneurs about issues with selling goods through platforms such as Amazon and eBay, primarily related to payments. However, this problem is not specific to our country. Every major trading platform has its own national interests and policies that determine their interaction with different markets," noted Mahmudov.
According to him, in the past, interest in the Azerbaijani market from foreign e-commerce systems was limited due to the focus on domestic consumption of goods and services.
"However, recent statistical data and the growth in non-cash transactions have significantly heightened their interest in Azerbaijan. The country has sufficient potential, even compared to neighboring countries. In addition, Azerbaijani cards are actively used for purchases in Türkiye, including those on Turkish e-commerce platforms, yielding substantial revenues," the official added.
The data from the Azerbaijan Banks Association showed that the number of bank cards used in the country grew by 23 percent in 2023 compared to 2022 and reached 16.6 million.
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