Visa names popular non-cash card payment categories in Azerbaijan

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May 12, 2022 1:20 p.m. (UTC+04:00)

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Azerbaijani citizens are increasingly turning away from cash in favor of more convenient and reliable payment methods, the Azerbaijan Visa office told Trend.

According to a recent study by Visa, 59%, or about 6 million inhabitants of Azerbaijan, have one bank card, 19% – two or more.

According to the visa office, every second Azerbaijani citizen uses a bank card once a week or more to pay for purchases, goods in online stores and online services, as well as telecommunications and utilities.

“Cashless payments of taxes, fees and fines, goods in household appliance stores, clothing stores, supermarkets, services in gas stations, hotel accommodation are also popular,” noted the society.

“At the same time, citizens of Azerbaijan pay special attention to the reliability of the bank, the level of protection against fraud, the presence and location of its branches and terminals, the absence of commission when card usage, ease of withdrawing cash and making transfers, availability of credit products,” the company noted.

“In addition, when choosing a financial institution and product bank, consumers also consider important parameters such as the commission to replenish their account or make peer to peer (P2P) transfers (card to card ), as well as card maintenance fees,” Visa said. .

The company noted that the majority of Azerbaijani citizens have realized the importance and convenience of digital payments, as well as online shopping since the onset of the COVID-19 coronavirus pandemic, when consumers and businesses were forced to switch to buying and selling goods online, also limits the amount of physical contact.

“The Visa team continues to give maximum support to the development of financial institutions in Azerbaijan, the introduction of cashless payments and new payment methods,” the company added.

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