BAKU, Azerbaijan, November 26. The total number of transactions through the e-commerce platform in Azerbaijan has exceeded 992,100, co-founder of the Epoint startup Hasan Hasanov told Trend.
He said that the average number of transactions is 76 manat ($44.7), and the total number of registered customers is 1,071.
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, the plan aims to increase the share of non-cash payments in retail turnover to a staggering 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.
Epoint serves as a platform for the delivery of e-commerce services. The company specializes in technical solutions, business optimization tools, e-commerce, and electronic payment systems. The company creates business and business process management systems to enhance the efficiency of small and medium enterprises.