Value of mobile banking transactions doubled – CBA

In 2023, the value of transactions through internet banking in Azerbaijan increased by 12% compared to 2022, and the value of transactions through mobile banking doubled, the Executive Director of the Central Bank of Azerbaijan (CBA), Farid Osmanov, said at Visa Cashless Forum 2024 – Digital Azerbaijan event, Report informs.

“Payment documents submitted in paper format in transactions carried out on current accounts have decreased considerably. The share of electronic payments has exceeded 80%. Internet and mobile banking services are quite developed,” Osmanov said.