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:
"While 2.1 million transactions worth 312 million manat ($184
million) were carried out in January 2026, by April these figures
had risen sharply to 9.8 million transactions worth 940 million
manat ($553 million). Thus, in just four months, the number of
transactions increased 4.6-fold, while the total transaction value
grew threefold.
For comparison, the total amount processed during the first four
months of 2026 (2.23 billion manat or $1.3 billion) already
accounts for 85% of the entire volume recorded in 2025.
In April, new monthly records were set for both the number of
transactions and their total value," he added.
