Bank card turnover in Azerbaijan up by 27%

In 2024, the turnover through payment cards issued by banks in Azerbaijan exceeded 126 billion manats ($74.1 billion), Vusal Khalilov, Deputy Chairman of the Central Bank of Azerbaijan (CBA), said at the Finance and Technologies Exhibition (Fintex Summit) held in Baku, Report informs.

According to Khalilov, this is 27% more than in 2023: "In addition, according to data for April 2025, the monthly amount of non-cash payments through payment cards approached 10 billion manats ($5.88 billion). Within four months, the amount of non-cash payments made with domestic payment cards increased by more than 67%, and the number by more than 91%. This means that nine out of every ten transactions made with payment cards within the country are carried out cashlessly."

"Work continues on the development of the Instant Payments System, which allows for 24/7 payment processing directly through bank accounts. The scope, technical stability and functionality of the system are being increased, providing users with faster and more convenient payment options. When comparing the four months of 2024 with the same period in 2025, an increase of more than 40% was observed in the number of transactions carried out through the Instant Payments System. We are closely monitoring the growth dynamics of this indicator and predict that the positive trajectory of the indicator will continue in the coming months," Khaliliov said.