Online transactions rising in Azerbaijan

ICT Materials 5 October 2018 18:01 (UTC +04:00)

Baku, Azerbaijan, Oct. 5

By Huseyn Veliyev - Trend:

The monthly increase in the number of transactions of the GoldenPay payment system is three percent, the Chairman of the company's Board of Directors Naina Mehdiyeva told Trend.

This indicator is volatile and depending on the seasons of the year, can decrease or increase, Mehdiyeva said.

"A certain decline was recorded in the online payment service for bank loans, not because customers stopped repaying loans, but because there was a decline in the number of calls to banks for loans," Mehdiyeva said.

In general, according to Mehdiyeva, last year the share of online payments in the country accounted for 8-10 percent, but presently this figure reaches 15 percent and in individual industries even more. Currently, Goldenpay’s share in the online payments market in Azerbaijan reaches 75 percent.

"We measure performance by the number of transactions performed. It happens when the number of transactions grows and the amount decreases, which is due to the seasonal factor and the economic situation in the country. The average monthly turnover of transactions on the Goldenpay system is 18-20 million manat. This amount increases and decreases depending on the season," Mehdiyeva added.

Presently, over 360,000 users are registered on the payment portal, which is approximately 20 percent more than in early 2018. The company’s plans include bringing the number of hesab.az users to 400,000 by the end of 2018.


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