Azerbaijan Cards and Payments - Opportunities and Risks to 2027

Azerbaijan Cards and Payments - Opportunities and Risks to 2027

Summary

GlobalData’s ‘Azerbaijan Cards and Payments - Opportunities and Risks to 2027' report provides detailed analysis of market trends in the Azerbaijan’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including cards, and credit transfers during the review-period (2019–23e).

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 (2023e–27). 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.

This report provides top-level market analysis, information and insights into the Azerbaijan's cards and payments industry, including -

• Current and forecast values for each market in the Azerbaijan's cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including 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's 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's cards and payments industry.

Scope

• To encourage electronic payments, the central bank launched the Instant Payment System (IPS) in October 2020. IPS enables users to make payment within five to 10 seconds. The system enables transactions between individuals, businesses, and government agencies on a 24/7 basis. Users can make fund transfers between bank accounts using simplified identifiers such as PIN, phone number, and email address. Transactions can also be carried out using QR codes.
• Alternative payments are set to grow in popularity, with banks and payment services providers launching new solutions. Google Pay was launched in Azerbaijan in August 2022. It can be used for in-store, online, and in-app payments. The solution also enables users to store travel tickets, boarding passes, and loyalty cards within the app. Supporting banks and financial institutions in the country include PASHA Bank, Bank Respublika, ABB Bank, Kapital Bank, Rabitabank, and Unibank.
• The adoption of card payments in the transport sector will support the growth of the card payment space. In October 2022, European IT services provider IBA Group and Visa launched Visa Mobility & Transport Transaction (MTT) technology in Azerbaijan. MTT was implemented in partnership with Azerbaijan Railways, the central bank, ABB Bank, RBC Group, and Azericard. It enables commuters to accumulate railway fares over the course of each day, then pay for their journeys at the end of the day in a single transaction. Customers need to tap a Visa EMV contactless card (or a device or wearable linked to the card) to utilize the service. A single fare is charged to the linked card at the end of the day.

Reasons to Buy


This report provides top-level market analysis, information and insights into the Azerbaijan's cards and payments industry, including -

• Make strategic business decisions, using top-level historic and forecast market data, related to the Azerbaijan's cards and payments industry and each market within it.
• Understand the key market trends and growth opportunities in the Azerbaijan's cards and payments industry.
• Assess the competitive dynamics in the Azerbaijan's cards and payments industry.
• Gain insights into marketing strategies used for various card types in Azerbaijan.
• Gain insights into key regulations governing the Azerbaijan's cards and payments industry.