The Baku population will be provided with greater access to Paypoint machines. While until now there are about 460 payment terminals, by the end of the year the number will increase by 200 units.
The company SilverKey Azerbaijan plans expansion not only of the network of terminals, but also services. Through Paypoint terminals people pay for utility services, fixed and mobile communications, Internet and cable television. In the near future the terminals will download SMART-cards used to pay for the production association Azeriqaz (national carrier of gas). By the end of the year drivers will be able to pay fines for traffic errors through these terminals.
This kind of financial services is not so popular in Azerbaijan, but its benefits are obvious. For the clients it is easy to use short transactions, without standing in queues in the traditional areas of payments. They appreciate the availability of services at any time of the day, the ability to simultaneously perform several different payments, and secure transactions. - 17D-
Economics
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In 2024, Azerbaijan witnessed significant growth among rapidly expanding enterprises, particularly in the booming non-oil sector. As the government prioritizes economic diversification, companies in industries such as mining, logistics, agriculture, and manufacturing have emerged as key drivers of economic progress.
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Azerbaijan’s State Oil Fund (SOFAZ) reported a 10.7% decline in revenues from the Azeri-Chirag-Gunashli (ACG) oil field block in 2024, amounting to $740.7 million less than the previous year. Total earnings from ACG from the start of 2024 until January 1 stood at $6.16 billion, down from $6.89 billion over the same period in 2023, according to SOFAZ.
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The Azerbaijan Land Transport Agency (AYNA) has reduced the average age of taxis from 15 to 7 years in 2024 as part of comprehensive transport reforms aimed at enhancing safety, sustainability, and service quality.
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Azerbaijan's State Special Communication and Information Security Service (SSCISS) has reported vulnerabilities in the security systems of 857 information resources across state institutions in 2024, marking a 23% increase compared to 2023, according to official data released this week.
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