Over 87% of cashless payments in Azerbaijan made through e-commerce

In July 2025, the total volume of cashless payments in Azerbaijan reached 8.753 billion manats (approximately $5.15 billion), marking a 20.2% increase compared to the same period last year, Report informs, citing the Central Bank of Azerbaijan.

Of this amount, 7.629 billion manats (over $4.487 billion)-or 87.2%-were attributed to e-commerce transactions. Payments made via POS terminals totaled 1.120 billion manats ($658.8 million), while self-service terminals accounted for 5 million manats (just over $2.94 million).

Since the beginning of the year, domestic cashless transactions made with payment cards have represented 67.1% of the total card transaction volume.

As of August 1, the number of bank cards in circulation in Azerbaijan stood at 20.913 million-up 1.3% month-on-month, 5.1% since the start of the year, and 14% compared to the same period in 2024.

Over the past year, the number of debit cards increased by 17.05% to 18.79 million, while credit cards declined by 7.1% to 2.123 million. In July, turnover through these cards amounted to 12.525 billion manats (over $7.367 billion) for debit cards (up 14.8% year-on-year) and 806 million manats ($474.1 million) for credit cards (up 4.1%).

During the reporting period, the number of ATMs in the country rose by 8.3% to 3,442 units (including 1,847 in Baku), while the number of POS terminals surged by 48.7% to 147,478 units (90,791 of which are located in Baku).

Currently, there are three main types of international payment systems: card-based, electronic, and universal systems. The five most widely used global card payment systems are Visa International, MasterCard International, American Express, Diners Club International, and JCB Card-all of which cooperate with Azerbaijani banks.