Payment Card Year Books

Azerbaijan 2017/2018

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A newer version of this product can be found here 

Payment Organization

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 5.3 million cards in Azerbaijan by end-2016, a decline of 5.7% from 2015. 

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 Modernization Project (FSMP). 

State-controlled International Bank of Azerbaijan is the dominant player, several times the size of Kapital Bank, the next biggest. 

Foreign bank investors, headed by Turkish banks and international organizations, are present in the market. 

Notable Market Trends

Rollout of contactless cards and POS terminals has started; 

Debit MasterCard cards; MPOS terminal pilots 

Statistical Key Figures for 2016 provided in this profile:

UPDATED: tables with card business data 2012-2016; 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

Digital product provided in PDF format. You will receive a download link to a zip file containing your files after checkout. 


1.0.0 last updated 2nd December 2017