BAKU, Azerbaijan, July 12. To date, the e-commerce platform in Azerbaijan has seen a whopping number of transactions, surpassing 628,800, co-founder of Epoint startup Hasan Hasanov told Trend.
According to him, the average number of transactions is 63.71 manat ($37.4).
Hasanov added that the total number of registered customers is 1,296.
To note, 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 objectives for the development of digital payments for 2024 include the following: increasing the average annual number of non-cash transactions per person to 130 units (compared to 93 payments in 2023); and achieving an increase in the share of instant payments in the national payment system to 5 percent," the CBA emphasizes.
Additionally, there are plans in the pipeline to up the ante and raise the stake of non-cash payments in retail turnover to a whopping 25 percent in 2024. It is also expected that the lion's share of digital banking in customer transfers from current accounts will hit 83 percent, compared to 79.6 percent in 2023.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel