Azerbaijan increases volume of cashless payments by 90%

As of May 1, 2023, the number of payment cards in Azerbaijan amounted to 14,465,000, up 1.5% from a month earlier, 6.1% from early 2023, and 17.5% from a year ago, Report informs, citing the Central Bank of Azerbaijan.

The number of debit cards in Azerbaijan increased by 16.1% to 12.516 million over the past year, and the number of credit cards soared by 27.1% to 1.949 million. The turnover of these cards amounted to 5.905 billion manats ($3.47 billion) (50.1% more than a year earlier) and 417 million manats ($245.29 million) (35.4% more), respectively.

In April 2023, the amount of non-cash transactions with payment cards in Azerbaijan increased by 90% to 3.202 billion ($1.88 billion).

As of May 1, 2023, there were 3,075 ATMs (2.6% more than in the same period of 2022) in Azerbaijan, including 1,599 ATMs in Baku.

The number of POS terminals went up 15.9% to 79,118, with 54,647 in Baku.