Transfers through mobile banking more than double in Azerbaijan

In 2023, the total number of transfers from bank customers' current accounts through paper carriers and digital banking amounted to 363.6 million, and the value was $379.3 billion manats ($222.82 billion), Report informs, citing the annual Review of Digital Payments of the Central Bank of Azerbaijan.

According to the information, this is 94% and 19.1% more than in 2022, respectively.

Some 85.9%, or 312.2 million, of the transfers made in the reporting period and 79.6%, or 301.8 billion manats ($177.29 billion), in terms of value, were carried out through digital banking, up by 2.3 times and 23.7%, respectively.

Last year, the value of customer transfers made through internet banking services increased by 12% to 227.7 billion manats ($133.81 billion) compared to the previous year, and the value of customer transfers made through mobile banking services doubled to 46.2 billion manats ($27.15 billion).