MasterCard says e-commerce payments in Azerbaijan increase

By Trend

The volume of non-cash payments in e-commerce in Azerbaijan since the beginning of the year amounted to 5.3 billion manats ($3.1 billion), head of the MasterCard representative office in Azerbaijan Erdem Cakar said during the ‘Future is Now’ online conference organized by MasterCard, Trend reports on Nov. 2.

According to Cakar, this indicator has grown by almost eight times compared to 2017.

"In Azerbaijan, the number of bank cards exceeds 10.4 million, which shows an increase of 79 percent compared to 2017. In addition, the share of POS terminals accounts for about 30 percent of payments. The volume of e-commerce in Azerbaijan also increased to 5.3 billion manats ($3.1 billion). The share of remittances accounts for about 26 million manats ($15.3 million), which shows an increase of 4.2 times," Cakar said.

He also noted that in all Bravo supermarket chain in Azerbaijan, non-cash payments account for about 85 percent of payments, which was facilitated by joint campaigns with Bravo.

"The campaigns we have been running since 2020 offer the chance to win a variety of prizes, including a car, as well as modern smartphones," Cakar said.

Cakar added that over 1,000 POS terminals are installed in Bravo's networks.