11:15 - 26.04.2023

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April 26, Fineko/abc.az. Over the past five years, the share of card payments among consumers in Azerbaijan has grown from 5% to 25%, ABC.AZ reports, referring to international payment system Mastercard.

During this period, Azerbaijan has taken a leading position in terms of growth in card payments. Important factors behind this development are the rapid growth in the number of individuals in the banking ecosystem and, as a result, the doubling of the total number of cards per capita within five years, the increase in the number of terminals in the country, and various bonus programs announced by banks for non-cash payments.

In addition, the growth of e-commerce and the limitation of the use of cash, especially during the pandemic, have encouraged consumers to use bank cards for purchases.