Azerbaijan Hits New Highs In Payment Transactions - CBA Official

2026-06-09 08:08:38

(MENAFN- Trend News Agency) BAKU, Azerbaijan, June 9. New records were observed in payment transactions in Azerbaijan, Senior Software Engineer/Payment Systems Administrator at the Central Bank of Azerbaijan (CBA), Tofig Ajirgayev, said during the 10th International Finance and Banking Summit taking place in Baku, Trend reports.

According to him, the country's payment ecosystem has experienced a sharp and dynamic growth in recent years. Thus, the number of transactions processed in the system has increased 86 times over the past 5 years, from approximately 116,000 to 10 million. In parallel, the transaction volume increased 9.3-fold, rising from 281 million manat ($165 million) to 2.6 billion manat ($1.5 billion).

Ajirgayev noted that the growth rate during 2021-2024 was stable and consistent, with a doubling of indicators observed every two years. However, 2025 was a real turning point in this area.

"In 2025, the number of transactions increased more than 12 times compared to 2024. The main reason for this leap is the organization of processing P2P (person-to-person) transfers through the iOS operating system," he explained.

The CBA official also touched upon this year's figures, emphasizing that the upward trend has continued in 2026:

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