BAKU, Azerbaijan, January 9. The number of bank
cards in Azerbaijan has increased by 23 percent in 2023 compared to
the figure of 2022 and reached 16.6 million, said President of the
Azerbaijan Bank Association (ABA) Zakir Nuriyev during the
Azerbaijan Financial Forum on “Achievements and challenges”,
Trend reports.
“The country’s increase in the number of cards amounted to 3.1
million, 95.4 percent of these cards allow contactless payments.
Overall, more than 76 percent of payment cards in the country
support this type of payment. More than 91 percent of payments made
through POS terminals are contactless,” he noted.
He also mentioned that 55.2 percent of payment card transactions
in the country were cashless in the first 11 months of 2023.
“The volume of cashless card transactions from January through
November 2023 amounted to 43.2 billion manat ($25.4 billion), which
represents an increase of more than two times compared to the same
period of 2022,” he said.
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