Cashless payments will not grow

BAKU/10.04.14/TURAN : Level of cashless payments in Azerbaijan is at a very low level , which is clearly seen in the comparative analysis of the share of non-cash settlements of Azerbaijan, Belarus and Ukraine.

According to the Central Bank of Azerbaijan , last year 5.8 million holders of plastic cards carried 67.8 million transactions totaling about $ 10.3 billion manat. Specific weight in non-cash payments in the amount of expression was 17%, in aggregate terms - 5.6%. For comparison, in Belarus, where 9.4 million people , which corresponds to the population of Azerbaijan , we have 11.8 million cards were carried out 10 times more operations in the amount of $ 26 billion (in terms of 20 manats 4 billion ) . The share of non-cash transactions in the total number of transactions using payment cards amounted to 68.4 %, and in cumulative terms - 21.5%. In Ukraine, cash payments constitute 17.3% of the total volume of transactions.

Central Bank of Azerbaijan for the first time in 2005-2007, implemented the state program of development of national payment systems. The second state program to promote cashless payment covers the period 2012-2016 . Over the past four years, the share of non-cash payments in the total rose by only 3 percentage points. Pace to the current level of Belarus, the country will reach at best in 12-15 years.

Today in Baku in the retail sector are more than 28,000 POS terminals. In the Commerce Clause, where the majority of citizens merchandised in the best case, there is a cash register.

According to the chairman of association of merchants and manufacturers Sevgima Rakhmanov , traders disinterest in cashless payments dictated by the fact that small commercial properties pay for goods in cash , in addition they do not wish to turn illuminates . They also have to raise the price of a couple of percent of those who takes the pot as a commission for transactions through the terminal . This ultimately reduces the competitiveness of the entrepreneur and a negative impact on business. Proshe hide POS terminal in the far corner, and to pay the bank a penalty of 10-20 manats a month.

According to the experts for the development of cashless payments in Azerbaijan should increase the penetration of non-cash payments in the transport sector , trade, services , and entertainment. There is an urgent need to expand the network of ATMs and POS terminals. Today, even in the capital's center at every corner there is an ATM that talk about regions. Another important factor is called the greater growth of the Internet in the regions, to improve access to electronic services . Among the experts, there are more radical proposals in the form of setting a limit on cash transactions, ranging from 2000 manat.

Azerbaijan has over 80 % of the cards are social , including 30% of payroll cards. Service maps are 2427 through 34141 ATMs and POS terminals. Data processing cards and deal Azericard Millikart. - 15B -