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Payment Organisation
AzeriCard, owned by International Bank of Azerbaijan;
MilliKart, owned by 17 banks and EBRD.
Domestic Card Brand
AzeriCard, (few) Millikart.
Market Structure
VISA and Mastercard are the principal payment cards issued in Azerbaijan. Also: American Express cards and Diners Club cards.
An estimated 50% of cards are VISA-branded.
Salary cards have been widely introduced in Azerbaijan.
Based on central bank figures, there were 6.51 million cards in Azerbaijan by end-2018, up by 12.26% on 2017.
CBA, the central bank, has been mandated to promote electronic payments, with a focus on payments for state services and extension of payment facilities to the mass market.
In 2016, a bank sector consolidation was carried out by CBA, according to the Financial Sector Modernisation Project (FSMP).
State-controlled International Bank of Azerbaijan is the dominant player.
Foreign bank investors, headed by Turkish banks and international organisations, are present in the market.
Notable Market Trends
Rollout: contactless cards, POS terminals, mobile banking apps, Debit Mastercard cards, VISA Debit, MPOS terminal pilots.
Statistical Key Figures for 2018 provided in this profile:
• UPDATED: tables with card business data 2014-2018; growth rates: Y-o-Y, CAGR
• Population, Cards per Capita, Card Value per Capita
• Debit Cards, Credit/Delayed Debit Cards, Total Cards
• Card payments by number and by value, ATV per card, payments per card/year
• ATMs, POS terminals, ATMs/POS terminals per 1 million capita
• ATM withdrawals by number/by value, ATV per withdrawal, TXs per ATM/month
• POS payments by number/by value, ATV per POS payment, TXs per POS/month
• Internet Use, e-payment mix, B2C e-Commerce by value and growth rate
• Issued Card brands by individual major issuer bank
• Accepted card brands by individual major acquirer
• Drill down into the debit card use and credit cards use details
Product information
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