BAKU, Azerbaijan, October 30. By the end of September 2025, a total of 6,600 transactions totaling 1.1 million manat ($647,000) had been processed using American Express cards issued by resident banking entities in Azerbaijan.
Data obtained by Trend from the Central Bank of Azerbaijan (CBA) indicates that this represents a steep drop in the bucket compared to the same stretch last year, with the number of transactions taking a nosedive by 99.3 percent, or 1 million transactions, and the transaction volume plummeting by 95.8 percent, or 24.9 million manat ($14.6 million).
In the interim, the transactional throughput associated with American Express cards distributed by non-resident financial entities culminated in a total of 2,000 discrete transactions, aggregating to a transactional volume of 1.5 million manats (equivalent to $882,000). This denotes a 33.3 percent uptick in transactional occurrences and a 66.7 percent escalation in transaction volume relative to the corresponding timeframe in 2024.
To note, transactions with cards issued by resident financial institutions represent the overall volume of transactions carried out with payment cards issued by local banks and financial organizations, whereas transactions with cards issued by non-resident financial organizations reflect those made with cards issued by foreign entities for individuals residing outside Azerbaijan.
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