TODAY.AZ / Business

How popular are non-cash payments in Azerbaijan?

29 November 2018 [17:26] - TODAY.AZ

By  Trend

In 2018, the share of payments through POS terminals in Azerbaijan accounted for 3-4 percent of the country’s GDP (65.2 billion manats in January-October 2018), Erdem Cakar, MasterCard country manager in Azerbaijan, said at a press conference Nov. 29.

He said the figure is 40 percent in Turkey, 50 percent in the UK and 70 percent in Sweden.

In this context, Cakar noted the significance of the “Cashless Azerbaijan” project.

He noted that the project will make it possible to increase non-cash payments in the country, enhance transparency and support economic growth.

Cakar also spoke about the measures taken by MasterCard to increase non-cash payments in Azerbaijan.

In particular, he reminded about the cooperation with the Central Bank of Azerbaijan in implementation of the “Cashless Azerbaijan” project, about three preferential campaigns in supermarkets, including in the Nakhchivan Autonomous Republic, the "Priceless Specials" discount program and other endeavors.


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