BAKU, Azerbaijan, October 9. The monthly card turnover in Azerbaijan reached 10 billion by the middle of this year, Deputy Chairman of the Central Bank of Azerbaijan (CBA) Vusal Khalilov said at the Baku Fintech Forum 2025, Trend reports.
He observed that this constitutes a relatively substantial metric.
"This is an example of the country's overall transition to cashless payments. At the same time, we are also witnessing an increase in the use of instant payments. Over the past year, we have managed to transfer 10 percent of the volume of the national payment system to the instant payments system. We plan to increase this figure even further," the official added.
To note, Azerbaijan initiated the deployment of banking cards, with AzeriCard facilitating the inaugural issuance of a bank card within the national framework in 1997, in collaboration with the International Bank of Azerbaijan. In 2005, the Bank of Baku achieved a pivotal milestone in the realm of international card issuance by securing a license, marking a significant advancement in the financial landscape. However, it is essential to recognize that the inception of AzeriCard in 1997, which introduced the inaugural bank card in Azerbaijan, represents the foundational moment for the adoption of bank cards within the region.
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