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Jun 06, 2023 671

Credit cards increased by 417 thousand in Azerbaijan!

#Local

At the end of April, the number of payment cards in circulation in the Bank and "Azerpocht" LLC systems increased by 219,000 compared to the previous month, amounting to 14,465,000. This information was announced in the Central Bank's Statistical Bulletin on the banking sector.

It was noted that this indicator increased by 17.5% compared to the corresponding period of the previous year.

The increase in payment cards comprised 16.1% for debit cards and 27.2% for credit cards. Additionally, compared to the corresponding period of the previous year, the number of salary cards increased by 105,000, credit cards increased by 417,000, and other cards increased by 1.6 million. The increase in payment cards has had a positive effect on the volume of non-cash payments. Therefore, the volume of non-cash transactions within the country increased by 1.9 times compared to the corresponding period of the previous year. In April 2023, the volume of non-cash payments made through cards amounted to 3 billion 202 million manats.

Out of the total non-cash payments, 2 billion 535 million manats were accounted for by electronic trade. The remaining amount consisted of 663 million manats made through POS terminals and 4 million manats made through self-service terminals. Since the beginning of the year, the volume of non-cash domestic transactions with payment cards has accounted for 51.4% of domestic card transactions.

A dynamic growth is observed in the payment service networks of banks and "Azerpocht" LLC. Consequently, compared to the end of April of the previous year, the number of ATMs increased by 2.6%, and the number of POS terminals increased by 15.9%.