BAKU, Azerbaijan, July 25. The volume of non-cash transactions with payment cards in Azerbaijan increased 2.2 times (up to 9.9 billion manat or $5.8 million) in 2H2022, compared to the same period last year, Trend reports with reference to the Central Bank of Azerbaijan (CBA).
According to CBA’s data, the share of non-cash transactions in Azerbaijan conducted with the help of payment cards increased by 12.2 percent in the first half of 2022, compared to the same period last year - up to 40.4 percent.
The volume of local e-commerce increased by 2.8 times - to 7.4 billion manat ($4.3 billion).
The amount of non-cash payments via POS-terminals increased by 41 percent - up to 2.5 billion manat ($1.4 billioni).
According to the ‘Strategy of social and economic development of Azerbaijan Republic for 2022-2026’, in Azerbaijan the share of non-cash transactions with bank cards will increase by five percent annual, during this period.
