BAKU, Azerbaijan, September 6. The total number of transactions through the e-commerce platform in Azerbaijan has exceeded 685,200, co-founder of the Epoint startup Hasan Hasanov told Trend.
According to him, the average number of transactions is 62.46 manat ($36.74).
Hasanov added that the total number of registered customers is 1,464.
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 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 statement from the CBA emphasized.
Furthermore, there are plans in the works to push the envelope and up the ante by increasing the slice of the non-cash payment pie in retail turnover to a whopping 25 percent by 2024. The lion's share of digital banking in customer transfers from current accounts is also expected to hit the nail on the head at 83 percent, compared to 79.6 percent in 2023.
