Non-cash payments in November increased by more than 14%

The volume of non-cash payments in Azerbaijan in November this year increased by 14.4% compared to the same period last year - to 7 billion 940 million manats.

As reported by BAKU.WS with reference to the Central Bank of Azerbaijan (CBA), out of this amount, 6 billion 948 million manats (87.5%) accounts for e-commerce.

990 million manats of payments were made through POS terminals, and 2 million manats through self-service terminals.

Since the beginning of the year, the amount of non-cash operations with payment cards within the country amounted to 67.5% of the volume of card operations.

As of December 1, the number of payment cards in Azerbaijan was 21 million 835 thousand, which is 0.6% more in monthly comparison, 9.7% more compared to the beginning of the year, and 12.2% more compared to the same period last year.

Over the past year, the number of debit cards in the country increased by 14.7% - to 19.738 million, while credit cards decreased by 6.7% - to 2.097 million. In November, the turnover on these cards amounted to 11.360 billion manats (+13.7%) and 685 million manats (-13.7%) respectively.

During the reporting period, the number of ATMs in the country increased by 8.5%, and POS terminals - by 57.1%, amounting to 3,548 units (1,918 units in Baku) and 179,162 units (111,251 units in Baku) respectively.

Currently, there are 3 main types of international payment systems: card, electronic, and universal payment systems. The most popular in the world are 5 card payment systems - Visa International, MasterCard International, American Express, Diners Club International, and JCB Card. These financial giants also cooperate with Azerbaijani banks.