The number of digital payments in Azerbaijan has reached a record level

According to the indicators of the first 6 months of the current year, 62% of transactions with payment cards issued by banks in the country were carried out in non-cash form. The rapidly developing e-commerce turnover accounts for 83.3% of non-cash payments, and 52% of the total transaction turnover with payment cards.
During the first 6 months of the current year, the turnover of cash payments with payment cards in the country increased by 15.4% compared to the corresponding period of last year. A decrease in the growth of cash payment turnover is observed. Thus, the cash turnover for the first 6 months of 2023 increased by 23.4% compared to 2022.
According to the indicators of the first 6 months of the current year, about 62% of the transaction volume and about 68% of the number of transactions fall on the Visa international payment system.
As of June 30, 2024, the number of branches of 23 banks operating was 486, the number of departments was 91, and the number of ATMs was 3,086. The growth trend in the number of bank employees continued in June of the current year. In the reporting month, the number of employees in the banking sector increased by 0.1% or 35 people and amounted to 24,223 people. • The total assets of active banks are 50,328.1 mln. AZN, total liabilities 44,086.3 mln. AZN, balance capital 6,241.8 mln. was manat. In June, total assets and total liabilities of the banking sector increased by 2.4% and 3%, respectively, while balance sheet capital decreased by 1.4%. The decrease in balance capital was due to dividend payments.