MasterCard contactless transactions grow in Azerbaijan

By Trend

The contactless transactions of MasterCard international company in Azerbaijan have increased by 30 percent, Erdem Cakar, head of the representative office of MasterCard in Azerbaijan, told Trend.

"During our Bravo Campaign, our cardholders gained draw participation, right 10 times more for a contactless transaction compared to traditional methods like swipe or chip and pin," Cakar added. "This campaign helped overall contactless transactions to rise up to 50 percent in Bravo activation. Masterpass has grown similarly thanks to new card registrations and increase in usage. "

"As Mastercard, we are keen to support the Azerbaijani government's initiatives towards a cashless economy," head of the representative office said. "As you may know, the government of Azerbaijan launched a state program for increasing the share of digital payments in the national economy in 2018-2020. "

"The primary goals of the program include increasing the volume of cashless, as well as innovative payments, reducing the share of cash turnover, helping the banks grow their investment opportunities, fighting the shadow economy and etc.," Cakar said. "In that regard, we chose to support the government support programs in order to enable digital payments and avoid disadvantages of cash usage.