BAKU, Azerbaijan, August 21. The e-commerce platforms in Azerbaijan are really hitting it out of the park today, with over 671,200 transactions under their belt, co-founder of ePoint startup Hasan Hasanov told Trend.
According to him, the average amount of transactions is 62.93 manat ($37).
Hasanov added that the total number of registered customers is 1,416.
To note, the Central Bank of Azerbaijan (CBA) has set its sights on a new goal for 2024 - to up the ante and raise the bar on non-cash payments in card transactions. Their aim is to hit a whopping 60 percent, surpassing the current level of 55.6 percent achieved in 2023.
“The objectives of digital payments development 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 growth in the share of instant payments in the national payment system to five percent,” the information from the CBA emphasizes.
Furthermore, it is planned to increase the share of non-cash payments in retail turnover to 25 percent in 2024. The share of digital banking in customer transfers from current accounts is also assumed to reach 83 percent, compared to 79.6 percent in 2023.