17:12 - 25.07.2022

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July 25, Fineko/abc.az. The high growth rates of contactless payments are primarily associated with an increase in the indicators of the contactless payment infrastructure. Currently, contactless payment technology is supported by 70% of payment cards and 82% of POS terminals in circulation.

ABC.AZ reports that senior specialist of CBA Department of Payment Systems & Settlements Rashad Gasimov informed about this.

"One of the most important factors in increasing the use of these payments is the formation of the habit of non-cash payments among the population. Contactless payments, which have become more widespread, in particular, due to pandemic restrictions, make it possible to pay for the cost of goods and services purchased by consumers on a daily basis more conveniently, quickly and safely without physical contact.