Mastercard: Volume of contactless payments in Azerbaijan from smartphone to triple

It is expected that by the end of 2023, the volume of contactless payments in Azerbaijan from a smartphone will grow from 10% to 30% of the total volume of contactless payments, General Manager of Mastercard in Azerbaijan and Turkiye Avsar Gurdal said in an interview with Report.

Gurdal believes that Azerbaijan has the necessary potential to achieve such indicators: “Azerbaijan is a country with very great potential. Today, the share of contactless payments from a smartphone among the total volume of transactions is 10%. We expect this figure to grow rapidly and by the end of 2023 to reach 30%.

Of course, along with international payment systems such as Apple Pay and Google Pay, other global mobile payment players may also want to take advantage of this potential and start operations in Azerbaijan in the future. Azerbaijan is now rapidly introducing these technologies. Achieving a 10 percent target during the year is evidence of this.”

According to Gurdal, Apple Pay and Google Pay also hold the main share in the global mobile payment market.

“I believe that in the future the number of applications from international players for introduction to the Azerbaijani market will increase, and consumers will have a greater choice,” he added.