12:21 - 12.04.2023
April 12, Fineko/abc.az. The level of digitization of money transfer services of banks in Azerbaijan is higher than the level of use of services by customers.
ABC.AZ reports that research group’s head, international expert Anna Prokhorova said about this at the meeting of the working group of project "Strengthening the socio-economic consequences of money transfers in Azerbaijan".
She noted that although all large banks providing money transfer services from abroad in Azerbaijan have integrated their payment systems into mobile banking applications, most users of international money transfer services are still not bank customers.
It was stressed that the low financial inclusion among the adult population in Azerbaijan restricts the use of digital money transfers: "The main part of debit cards in circulation in the country are salary and social cards intended for mandatory payments. In addition, social cards can only be used for the payment of benefits and social benefits by the state."
