BAKU, Azerbaijan, March 5. In Azerbaijan, the total number of transactions through the e-commerce platform is currently above 493,200, co-founder of Epoint startup Hasan Hasanov told Trend.
As he noted, the average number of transactions is 65.72 manat and the total number of registered customers is 964.
Meanwhile, the Central Bank of Azerbaijan (CBA) has set a target for 2024 to increase the share of non-cash payments in card transactions to 60 percent from the level of 55.6 percent in 2023.
"The targets for the development of digital payments in 2024 include the following: boosting the average yearly number of non-cash transactions per person to 130 units (compared to 93 payments in 2023); and boosting the share of instant payments in the national payment system to 5 percent," the information from CBA emphasizes.
Notably, the share of non-cash payments in retail turnover is expected to rise to 25 percent by 2024 and e-banking is predicted to account for 83 percent of consumer transfers from current accounts, up from 79.6 percent in 2023.
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