BAKU, Azerbaijan, March 8. According to the latest data, the total number of payment cards in circulation in Azerbaijan has shown a steady growth since 2019, the report of Azerbaijan's Cabinet of Ministers says, Trend reports.
The total number of cards amounted to 7.5 million units in 2019. By 2020, this figure rose to 9.6 million units.
The number of payment cards reached 11.5 million units in 2021, continuing a steady upward trajectory that continued into 2022 when the number reached 13.6 million units.
Additionally, in 2023, the number of payment cards in circulation reached a record high of 16.9 million units, which indicates a significant increase in the popularity of non-cash means of payment among the population.
Dynamics of the number of payment cards in circulation in Azerbaijan from 2019 to 2023:
|
Year |
Number of cards (million) |
|
2019 |
7,5 |
|
2020 |
9,6 |
|
2021 |
11,5 |
|
2022 |
13,6 |
|
2023 |
16,9 |
To note, the number of payment cards in circulation in Azerbaijan by the end of 2023 amounted to 16.9 million units, which is 24 percent higher than in 2022. Of the total number of payment cards, 76.5 percent support contactless payment. The number of contactless cards grew by 31.7 percent.
At the end of 2023, 86.9 percent of cards in circulation were debit cards (14.7 million units), while 13.1 percent (2.2 million units) were credit cards.
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