Total amount of bank card payments in Azerbajan up by 56%

In 2023, 88.1 billion manats ($51.76 billion) were paid via bank cards in Azerbaijan, which is 56% more than in 2022, Report informs with reference to the annual Review of Digital Payments of the Central Bank of Azerbaijan.

According to the document, the non-cash payments doubled to 49 billion manats ($28.78 billion).

Thus, during the year, the specific weight of non-cash settlements in domestic transactions increased by 12.4 percentage points to 55.6%.

The majority of non-cash payments via cards fell to the share of e-commerce operations. During the reporting period, the number of e-trade transactions increased by 2.2 times to 563.4 million, and the total amount increased by 2.1 times to 39.2 billion manats ($23.2 billion).

During the year, the number of operations carried out through the POS terminal at economic entities increased by 2.1 times to 416.6 million units, and the total amount surged by 68.5% to 9.8 billion manats ($5.75 billion). In addition, the number of contactless payments made via POS terminals increased by 2.2 times compared to the year and reached 401.1 million, and the total amount increased by 82.5% and reached 8.9 billion manats ($5.22 billion).