The number and volume of transactions carried out through Visa payment cards in Azerbaijan have recorded significant growth in the first quarter of the year, AzerNEWS reports.
According to the Central Bank of Azerbaijan, the total number of transactions made with Visa cards issued by resident financial institutions reached 167.896 million, with the total volume amounting to 8.696 billion manats (approximately $5.12 billion) as of the end of March.
Compared to the same period last year, the number of transactions increased by 72.485 million, or 76%, while transaction volume rose by 3.163 billion manats (approximately $1.86 billion), reflecting a 57% increase.
At the same time, transactions conducted via Visa cards issued by non-resident financial institutions totaled 625,800, with a volume of 54 million manats (approximately $31.8 million).
Overall, the number of payment cards in circulation across banks and Azerpocht LLC rose by 62,000 compared to the previous month, reaching 22.409 million cards by the end of March. This figure represents a 10% increase compared to the same period last year, indicating continued expansion of cashless payment infrastructure in the country.
