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About 6 million Azerbaijanis pay by card at least once a week
Azerbaijanis began to pay by card more often moving away from cash, a study by Visa shows.
According to the study, 59% (about 6 million residents of Azerbaijan) have one bank card, 19% - two or more, while every second citizen of the republic uses a card for payments once a week. Most often, they use cards to pay for purchases abroad, for goods in online stores and online services, as well as telecommunications and utilities.
Also, Azerbaijanis use cards to pay taxes, charges and fines, to pay for goods in household appliances stores, supermarkets and clothing stores, for services at gas stations, and for hotel accommodation.
“The modern efficient economy is by default a cashless, digital and green economy. And electronic payments have long become an integral part of it. We at Visa are pleased to see how the modern financial system of Azerbaijan is developing rapidly, but we also are happy to be an active participant in these positive transformations,” says Kristina Dorosh, Visa Vice President, Country Manager for Azerbaijan and Central Asia.
According to the study, about 17% of Azerbaijani citizens are ready to open a card in the next six months. They pay special attention to the reliability of the bank, the level of protection against fraud, the availability and location of branches and terminals, no-fee use of cards, user-friendly technique of cash withdrawals and money transfers, as well as the availability of credit products. Besides, when choosing a financial institution and banking products, consumers also consider parameters such as fees for replenishing their account or making P2P transfers, as well as card service fees, to be important for them.