Volume of payments by contactless cards grew 4 times in Azerbaijan

Until May 1 this year, the number of bank cards in circulation in Azerbaijan has reached 10.3 million, Executive Director of the Central Bank of Azerbaijan Farid Osmanov said, Report informs.

He noted that the volume of non-cash payments on these cards increased by 52 percent compared to the previous period and approached 2.8 billion manats: “50 percent of the 10 million cards in circulation, that is, 5 million cards are those with contactless functionality. Compared to the same period last year, the number of contactless bank cards increased 2.7 times. Compared to the corresponding months of 2019, the volume and number of payments with contactless cards increased 4 and 6 times.”