Non-cash payments in card transactions in Azerbaijan to be increased to 70%

The weight of non-cash payments in card transactions in Azerbaijan is aimed at being increased from the current 55% to 70%, according to the "Development Strategy of the Financial Sector in 2024-2026" approved by the Central Bank of Azerbaijan (CBA), Report informs.

According to the document, the weight of instant payments in the operations of the National Payment System will increase from the current 0.39% to 25%, as well as the weight of non-cash payments in retail trade turnover - from the current 21.1% to 40%, and digital banking in transfers - from the current 80% to 90%.