In recent years, as a result of a series of measures taken by the Central Bank of Azerbaijan, ecosystem participants and financial institutions to expand non-cash payments, the indicators of non-cash payments are growing dynamically.

APA-Economics reports that this was stated by the Director General of the Central Bank of Azerbaijan Farid Osmanov, speaking at the Fintex Summit Finance and Technology Exhibition.

He said that by June 1, 2022, the number of payment cards in circulation reached 12.9 million.

This is 20% more than in the same period last year.

The volume of non-cash payments in the country increased 2.2 times and reached 8 billion manat.

"The share of non-cash turnover in cash payments increased by 12.4%. The volume of e-commerce increased by 2.7 times and amounted to 6 billion manat," he added.