Cashless Payments in Azerbaijan

Introduction to Cashless Payments

Cashless payments via cards in Azerbaijan have shown rapid growth, with the total transaction volume exceeding ₼126 billion ($74 million) in 2024. This marks a 27% annual increase compared to 2023, according to Vusal Khalilov, a member of the Board of the Central Bank of Azerbaijan (CBA).

Growth of Cashless Payments

Khalilov announced this growth during his speech at the “Fintex Summit 2025 – Financial Technologies Exhibition,” organized by the Azerbaijan Banks Association and the CBA. This significant increase in cashless payments indicates a shift towards a more digital economy in Azerbaijan.

Access to Financial Information

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Supporting Independent Journalism

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Conclusion

In conclusion, the growth of cashless payments in Azerbaijan is a significant indicator of the country’s shift towards a digital economy. With various subscription plans available, users can access detailed financial information and support independent journalism. By staying connected with AzerNEWS, users can stay informed about the latest developments in Azerbaijan’s financial sector.