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Azerbaijan increases number of plastic cards by 10%

11 November 2011 07:41 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. As of September 1, 2011, the total number of plastic cards in Azerbaijan made 4 448 thousand units, up 397,000 or 9.85 compared to last year. The Central Bank of Azerbaijan says 2489 thousand of the cars are mini social, 1,318 â€“ mini salary, 487,000 mini debit, 154,000 â€“ credit cards.

In January-August of 2011, 33,401 thousand operations were conducted on plastic cards, the volume of transactions amounted to AZN 4639 mln. Over the last year these figures increased by 11.4% and 21.6% respectively.

The number of debit card transactions was 31,639 thousand, representing 94.7% of the total. The volume of transactions on debit cards made AZN 4150 mln, which equals 89.5% of the total. In turn, 1,763 thousand operations were conducted vi credit cards, the volume of transactions made AZN 488 mln. The average volume of a single transaction for debit cards amounted to AZN 138.9, this figure makes AZN 276.8 on credit cards.

Note that, 30,219 thousand of operations conducted with plastic cards were related to mini cash withdrawal. The volume of these transactions made AZN 4,210 mln, which is 90.8% of the total. This suggests that the cards are mainly used for cash withdrawals in Azerbaijan.