Azernews.Az

Saturday July 12 2025

Central Bank discloses number of contactless cards in circulation

12 June 2020 13:58 (UTC+04:00)
Central Bank discloses number of contactless cards in circulation

By Trend

Today, 1.9 million (22.6 percent) of 8.4 million plastic cards which are in circulation in Azerbaijan account for non-contact ones, Farid Osmanov, executive director of the Central Bank of Azerbaijan (CBA), told Trend on June 11.

Osmanov said that the CBA is implementing the measures within the Cashless Azerbaijan concept to improve the conditions for the introduction of cashless payments as an increase in cashless payments by 10 percent allows reducing the shadow economy by five percent.

The executive director stressed that one of the main priorities for the CBA is to ensure the development of payment channels through the review of the latest trends and the introduction of innovative technologies in this sphere.

"Some 28,000 POS terminals which are being used at the moment support the payment through contactless cards or mobile devices with the near field communication (NFC) function," Osmanov added.

--

Follow us on Twitter @AzerNewsAz

Here we are to serve you with news right now. It does not cost much, but worth your attention.

Choose to support open, independent, quality journalism and subscribe on a monthly basis.

By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.

Subscribe

You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper

Thank you!

Loading...
Latest See more