Baku. Ali Ahmadov – APA-Economics. The cashless payments in Azerbaijan tripled to 10% of total circulation year-on-year, said the Deputy Minister of Taxes Sahib Alekberov. According to him, the cashless payments make 10% of total circulation, while it was 3% a year ago.
Alekberov says one of mains reasons preventing increase of cashless payments is lower usage of plastic cards.
He noted that the proposals on improvement of cashless payments are being considered in the government: “I hope that these issues will be settled during this year”.
Alekberov mentioned that for stimulation of card usage, concessions were considered for owners receiving payments via card and one of them is exemption from VAT: “The proposals also include administrative steps, including limitation of cash payments”.
Speaking about the works for improvement of cashless payments, the Deputy Minister said that more than 30,000 POS-terminals have been installed in the country. Most of them are in Baku: “A special program is being executed in the republic. POS-terminals must be in all cities and regions for usage”.
Cashless payments level in the country is lower than in the world: “cashless payment in the developed countries is at the level of 80-90%. We need some years to reach this level”.
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