Volume of cashless payments in Azerbaijan soars in June

The amount of non-cash payments in Azerbaijan in June 2024, rose by 70% year-on-year and reached 6.103 billion manats (just under $3.59 billion), Report informs, citing the Central Bank of Azerbaijan (CBA).

Of that, 83.9 percent or 5.122 billion manats (just under $3.013 billion) were attributed to e-trade, as well as 972 million manats (over $571.7 million) were processed through POS terminals, and self-service terminals accounted for 7 million manats (over $4.11 million).

Furthermore, since the beginning of the current year, non-cash domestic transactions with payment cards constituted 62.5% of the total volume of domestic card transactions.

As of July 1, 2024, the number of payment cards in Azerbaijan amounted to 18.091 million, up 1.3% from a month earlier, 6.9% from early 2024, and 20.3% year-on-year.

The number of debit cards in Azerbaijan increased by 21.5% to 15.816 million over the past year, and the number of credit cards grew by 12.6% to 2.275 million.

During the reporting period, the number of ATMs and POS terminals in the country increased by 2.5% and 19.5%, respectively, and reached 3,159 (1,670 in Baku) and 97,718 (62,598 in Baku).