Azerbaijan sees 55% rise in bank card payments

In the first half of this year, 24.6 billion manats ($14.5 billion) were paid via bank cards in Azerbaijan (+54.5%), Report informs, citing the Central Bank of Azerbaijan.

According to the document, 9.9 billion manats ($5.8 billion) of last year's payments are non-cash payments (+2.2 times).

During the year, the specific weight of cashless settlements in domestic transactions increased by 12.2 percentage points to 40.4%.

The majority of non-cash payments via cards fell to the share of e-commerce operations. During the reporting period, the number of electronic trade transactions increased by 2.3 times to 105 million and the total amount by 2.8 times to 7.4 billion manats ($4.4 billion).

During the reporting period, the number of operations carried out by POS terminals at economic entities rose by 93% to 82.4 million units and the total amount by 41.2% to 2.5 billion manats ($1.5 billion). In addition, the number of contactless payments made via POS terminals boosted by 2.8 times compared to the year to 73.3 million and the total amount by 2.1 times to 2 billion manats ($1.2 billion).