From the beginning of the year to the end of June, the volume of domestic cashless payments in Azerbaijan increased by 14.5% compared to the same period last year.
elchi reports, citing the Central Bank of Azerbaijan, that the volume of domestic cashless payments made via payment cards in June of the current year amounted to 9 billion 902 million manats.
Of this amount, 8 billion 575 million manats accounted for e-commerce. The remaining funds consisted of 1 billion 325 million manats from POS-terminals and 2.5 million manats from operations carried out via self-service terminals and ATMs.
According to the Central Bank, since the beginning of the year, cashless domestic operations carried out with payment cards have accounted for 69.8 percent of all domestic card operations.
During the reporting period, the payment infrastructure also expanded. Thus, compared to the end of June last year, the number of ATMs increased by 4.4%, and the number of POS-terminals increased by 16.9%.
The Central Bank notes that the growth dynamics of payment service networks of banks and “Azerpost” LLC remain one of the main factors supporting the expansion of cashless payments in the country.