Volume of non-cash payments increases in Azerbaijan

In April 2024, domestic cashless payments via cards increase by 92% in Azerbaijan, Azernews reports, citing CBA.

The volume of domestic cashless payments carried out through cards during April 2024 increased by 92% compared to the same period last year, reaching 6.147M manats($3615.88).

Of this amount, 5.149M manats ($3.03) are attributed to electronic commerce transactions, while POS terminals accounted for 990M manats ($582.35)and self-service terminals for 8M manats ($4.71).

At the beginning of the year, card-based cashless domestic transactions accounted for 62% of all domestic card transactions.

The number of debit cards in Azerbaijan increased by 22.8% to 15.143 million over the past year, and the number of credit cards soared by 18.9% to 2.278 million. The turnover of these cards amounted to 8.906 billion manats ($5.23 billion) (36% more than a year earlier) and 645 million manats ($379.2 million) (41.4% more), respectively.

During the reporting period, the number of ATMs and POS terminals in the country increased by 2.7% and 13.7%, respectively, and reached 3,152 (1,639 in Baku) and 91,755 (59,638 in Baku).