Azerbaijan more than doubles volume of cashless payments

As of July 1, 2023, the number of payment cards in Azerbaijan amounted to 14,741,000, up 1.9% from a month earlier, 8.1% from early 2023, and 18.6% from a year ago, Report informs, citing the Central Bank of Azerbaijan.

The number of debit cards in Azerbaijan increased by 17.3% to 12.762 million over the past year, and the number of credit cards soared by 27.3% to 1.979 million. The turnover of these cards amounted to 7.042 billion manats ($4.14 billion) (65.9% more than a year earlier) and 511 million manats ($300.4 million) (45.6% more), respectively.

As of June 1, 2023, the amount of non-cash transactions with payment cards in Azerbaijan increased by 2.2 times to 3.930 billion ($2.31 billion).

As of June 1, 2023, there were 3,075 ATMs (2.6% more than in the same period of 2022) in Azerbaijan, including 1,602 ATMs in Baku.

The number of POS terminals went up 16.1% to 80,462, with 55,404 in Baku.