BAKU, Azerbaijan, September 27. The total volume of transactions through the National Payment System of Azerbaijan for the period from January through August 2024 reached 485.5 billion manat ($285.4 billion), which is 27.4 percent higher than the figure for the same period last year.
The data obtained by Trend from the country's Central Bank (CBA) shows that the bulk of the turnover (92.9 percent) came from operations in the real-time interbank settlement system (AZIPS), where 1.4 billion transactions were conducted (up 6.5 percent), totaling 451.05 billion manat ($265.1 billion) (up 29.2 percent).
On the settlement and clearing system for small payments (XOHKS) during the reporting period, the number of transactions amounted to 106.2 million (11.9 percent growth), turnover was 33.8 billion manat ($19.8 billion) (8.7 percent growth).
However, a total of 487,600 transactions (28.1 percent growth) worth 669.7 million manat ($393.6 million) (12.4 percent decline) were made in the instant payment system (AOS) in the first eight months of the current year.
To note, the volume of transactions in the National Payment System amounted to 766.3 billion manat ($450.4 billion) in 2023, which is 2.2 times more than in 2022.