Finance

Finance

Plastic cards mainly used for cash transactions in Azerbaijan

14 February 2012 11:22 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. The total number issued by commercial banks of Azerbaijan cards on January 1, 2012, amounted to 4,580 thousand, up 349 thousand or 8.3% compared to last year.

The Central Bank of Azerbaijan says 2,522 thousand are social security cards,1,330 thousand - payroll cards, 547 thousand â€“ debit cards, 181 thousand â€“ credit cards.

During 2011, about 50,953 thousand transactions were held via plastic cards, the volume of transactions amounted to AZN 7230 mln. These figures increased by 9.6% and 19.4% respectively during the year.

The number of debit card transactions amounted to 48,130 thousand, representing 94.4% of the total. The volume of transactions on debit cards makes AZN 6,457 mln, which equals 89.3% of the total. In turn, 2,824 thousand transactions were carried out by credit cards, which totaled AZN 773 mln. The average volume of a single transaction for debit cards amounted to AZN 134.2. This figure makes AZN 273.7 on credit cards.

Note that, 45 737 thousand transactions on plastic cards, or 89.8% of the total fell on share of cash withdrawal transactions. The volume of these transactions makes AZN 6,545 mln or 90.5% of the total.