Thursday April 25 2024

Azerbaijan sees rise in payments via foreign bank cards

3 April 2024 12:12 (UTC+04:00)
Azerbaijan sees rise in payments via foreign bank cards
Ulviyya Shahin
Ulviyya Shahin
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In January-February of 2024, foreigners performed transactions worth 372.2 million manat (about $218.9 million) with bank cards, Azernews reports.

According to the March issue of the Export Review of the Centre for Analysis of Economic Reforms and Communication, this is 11.5% more than the same period last year.

In February alone, the value of foreign citizens' bank card transactions in Azerbaijan stood at 184.3 million manats (about $108.4 million), which is 13.6% more than a year ago.

The increase in bank card transactions in Azerbaijan, attributed to international visitors, reflects a growing trend of reliance on electronic payment methods among tourists and foreign nationals.

As international travel and tourism to Azerbaijan continue to expand, visitors find it convenient to use bank cards for various transactions, including accommodation, dining, shopping, and transportation. This trend not only indicates the country's growing appeal as a tourist destination but also highlights the importance of a robust and modern payment infrastructure to accommodate the needs of global travellers.

Additionally, the rise in bank card transactions suggests a shift away from traditional cash-based transactions towards digital and secure payment methods, aligning with global trends in financial technology and consumer preferences. This data underscores the significance of catering to the needs of international visitors and ensuring seamless access to banking and payment services to support the continued growth of the tourism sector in Azerbaijan.


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