CBA continues work on expanding non-cash payments

By Trend

The Central Bank of Azerbaijan (CBA) has implemented major projects in order to expand non-cash payments, and this work continues, the CBA Executive Director Farid Osmanov said during the fintech summit in Baku on June 16, Trend reports.

"As of June 1, 2022, 12.4 million bank cards were registered in Azerbaijan, which is 20 percent more compared to the same period of last year. Non-cash payments increased by 2.1 times - up to 8.1 billion manat ($4.7 billion), and growth in the total turnover amounted to 12 percent. Besides, six billion manat ($3.5 billion) accounted for e-commerce," Osmanov noted.

In accordance with the CBA's roadmap until 2025, it’s planned to expand cooperation with fintech projects and adopt a number of laws in this area by the end of this year, added the official.