Azerbaijan, Baku, 1 May / corr. Trend I. Khalilova/ The perspective volume for debit card market of Azerbaijan makes up 4mln cards, said Elmar Sadigov, director general of AzeriCard processing center, totally owned by the International Bank of Azerbaijan (IBA). Some 3.5mln cards have been emitted through AzeriCard, 1.6mln of which accounts for IBA.
"The potential of Azerbaijan on the development of debit card market will exhaust after the market reaches 4mln volume, with credit cards developing later," Sadigov said.
The owners of debit cards will get credit and exclusive cards (like American Express). There are some only 200,000 credit cards in the card market, but their number is expected to increase from 1May onwards after the release of cards by IBA.
The official exchange rate for 1 May is 0,828 AZN/USD.
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