Azerbaijan increases volume of cashless payments by 90%

As of October 1, 2023, the number of payment cards in Azerbaijan amounted to 15,939,000, up 1.7% from a month earlier, 16.9% from early 2023, and 20.8% from a year ago, Report informs, citing the Central Bank of Azerbaijan.

The number of debit cards in Azerbaijan increased by 20.4% to 13.801 million over the past year, and the number of credit cards soared by 23.8% to 2.138 million. The turnover of these cards amounted to 7.255 billion manats ($4.27 billion) (51.3% more than a year earlier) and 560 million manats ($329.41 million) (41.4% more), respectively.

In September 2023, the amount of non-cash transactions in Azerbaijan increased by 90% to 4.388 billion ($2.58 billion).

In the reporting period, there were 3,119 ATMs (3% more than in the same period of 2022) in Azerbaijan, including 1,621 ATMs in Baku.

The number of POS terminals went up 9.9% to 81,799, with 55,362 in Baku.