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Azerbaijan Cards and Payments: Opportunities and Risks to 2029

Publisher GlobalData
Published May 05, 2025
Length 54 Pages
SKU # GBDT20043791

Description

Azerbaijan Cards and Payments: Opportunities and Risks to 2029

Summary

GlobalData’s ‘Azerbaijan Cards and Payments: Opportunities and Risks to 2029' report provides detailed analysis of market trends in the Azerbaijan cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cash, cards, and credit transfers during the review-period (2020-24e).

The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2025f-29f). It also offers information on the country's competitive landscape, including market shares of issuers and schemes.

The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.

GlobalData’s ‘Azerbaijan Cards and Payments: Opportunities and Risks to 2029' report provides top-level market analysis, information and insights into the Azerbaijan cards and payments industry, including -
  • Current and forecast values for each market in the Azerbaijan cards and payments industry, including debit and credit cards.
  • Detailed insights into payment instruments including cash, cards, and credit transfers. It also, includes an overview of the country's key alternative payment instruments.
  • Ecommerce market analysis.
  • Analysis of various market drivers and regulations governing the Azerbaijan cards and payments industry.
  • Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • The competitive landscape of the Azerbaijan cards and payments industry.
Key Highlights
  • Contactless payments are being progressively introduced across Azerbaijan's transport systems. In July 2023, the Ministry of Digital Development and Transport launched a bus payment system via the BakiKart mobile app. Users can easily register with their cell phone number and password, plan trips, top up their BakiKart balance, and pay for fares using QR codes. Furthermore, in January 2025, Azerbaijan expanded its contactless payment systems for train rides, especially on the Absheron route. Passengers can use the ADY Mobile app, ADY cards or NFC-enabled bank cards to make payments at various stations.
  • The Central Bank is undertaking significant initiatives to fortify the nation's financial sector. In February 2025, it introduced the Financial Sector Development Strategy for 2024-26, aimed at expediting the digital transformation and bolstering the growth of fintech. This strategy emphasizes the improvement of efficiency within the country's payment systems and the broadening of financial inclusion. Among the measures targeting the payments industry are the enhancement of customer authentication, the strengthening of consumer protection, as well as increasing public awareness campaigns to prevent fraud.
  • To capitalize on the growing demand for contactless payment solutions, in December 2024, the Azerbaijani digital payment service provider Epoint launched an mPOS terminal. The solution allows businesses to accept cashless payments directly on smartphones. The payment solution, developed in partnership with Visa and EasyGo, supports various payment methods, including contactless mobile payments through Apple Pay and Google Pay. Earlier in July 2024, PASHA Bank introduced tap Xphone; a payment solution offered by ABB (Azərbaycan Beynəlxalq Bankı; International Bank of Azerbaijan). PASHA Bank’s business customers can receive payments via their NFC-compatible smartphones.
Scope
  • Card market size in terms of number of cards, value and volume of transactions in the Azerbaijan along with detailed card segmentation of debit and credit cards available in the country.
  • Market sizing and analysis of major payment instruments including cash, cards and credit transfers.
  • Payment market trends and growth for both historical and forecast period
  • Competitor analysis with detailed insights into leading card issuers and schemes.
  • Comprehensive analysis of consumer attitudes and buying preferences for cards.
  • A detailed snapshot of country's key alternative payment brands.
Reasons to Buy
  • Make strategic business decisions, using top-level historic and forecast market data, related to the Azerbaijan cards and payments industry and each market within it.
  • Understand the key market trends and growth opportunities in the Azerbaijan cards and payments industry.
  • Assess the competitive dynamics in the Azerbaijan cards and payments industry.
  • Gain insights into marketing strategies used for various card types in Azerbaijan.
  • Gain insights into key regulations governing the Azerbaijan cards and payments industry.

Table of Contents

54 Pages
    • Azerbaijan: Key facts, 2024e
    • Azerbaijan: Benchmarking of payment cards, 2024e
  • Payment Instruments
    • Payment Cards: Market Sizing and Forecasting
    • Debit Cards: Market Sizing and Forecasting
    • Debit Cards: Schemes
    • Debit Cards: Issuers
    • Credit Cards: Market Sizing and Forecasting
    • Credit Cards: Schemes
    • Credit Cards: Issuers
    • Alternative Payments: Payment Solutions
  • Payment Innovations
    • POS Terminals and ATMs
    • Regulatory Environment
    • Azerbaijan: payment instrument transaction values (AZN billions), 2020-29f
    • Azerbaijan: payment instrument transaction values ($ billions), 2020-29f
    • Azerbaijan: payment instrument transaction volumes (million), 2020-29f
    • Azerbaijan: payment cards in circulation by type (millions), 2020-29f
    • Azerbaijan: volume of payment card transactions (millions), 2020-29f
    • Azerbaijan: value of payment card transactions (AZN billions), 2020-29f
    • Azerbaijan: value of payment card transactions ($ billions), 2020-29f
    • Azerbaijan: debit cards in circulation (millions), 2020-29f
    • Azerbaijan: debit card transaction volumes, 2020-29f
    • Azerbaijan: debit card transaction values (AZN), 2020-29f
    • Azerbaijan: debit card transaction values ($), 2020-29f
    • Azerbaijan: debit cards in circulation by scheme (000s), 2020-24e
    • Azerbaijan: debit card transaction values by scheme (AZN billions), 2020-24e
    • Azerbaijan: debit card transaction values by scheme ($ billions), 2020-24e
    • Azerbaijan: debit cards in circulation by issuer (000s), 2020-24e
    • Azerbaijan: debit cards transaction value by issuer (AZN billions), 2020-24e
    • Azerbaijan: debit cards transaction value by issuer ($ billions), 2020-24e
    • Azerbaijan: credit cards in circulation (millions), 2020-29f
    • Azerbaijan: credit card transaction volumes, 2020-29f
    • Azerbaijan: credit card transaction values (AZN), 2020-29f
    • Azerbaijan: credit card transaction values ($), 2020-29f
    • Azerbaijan: credit cards in circulation by scheme (000s), 2020-24e
    • Azerbaijan: credit card transaction values by scheme (AZN millions), 2020-24e
    • Azerbaijan: credit card transaction values by scheme ($ millions), 2020-24e
    • Azerbaijan: credit cards in circulation by issuer (000s), 2020-24e
    • Azerbaijan: credit cards transaction value by issuer (AZN millions), 2020-24e
    • Azerbaijan: credit cards transaction value by issuer ($ millions), 2020-24e

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