2021 Azerbaijan Payments Landscape Market Report- Growth Forecast Analysis by Manufacturers | Worldwide Analysis, Size and Forecasts to 2023

The research reports on Azerbaijan Payments Landscape Market report gives detailed overview of factors that affect global business scope. Azerbaijan Payments Landscape Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors. Azerbaijan Payments Landscape Market report contains emerging players analyze data including competitive situations, sales, revenue and market share of top manufacturers.

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Azerbaijan Payments Landscape Market Report provides detailed analysis of market trends in 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 (2015-19e).

Azerbaijan Payments Landscape Market 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 (2019e-23f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

Azerbaijan Payments Landscape Market Report brings together research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

Azerbaijan Payments Landscape Market Report provides top-level market analysis, information and insights into Azerbaijan’s cards and payments industry, including –
– Current and forecast values for each market in 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.
– Analysis of various market drivers and regulations governing Azerbaijan’s cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.

Scope of this report-
– To promote electronic payments, Azerbaijan’s government implemented the “State Program on expansion of digital payments in the Republic of Azerbaijan for 2018-2020” in September 2018. The program aims to reduce the share of cash transactions in the economy from 74% to 40%. To help achieve this, the government will expand innovative payment infrastructure supporting QR code-based transactions, cloud technology, and fast payments. In addition, the government aims to launch the first stage of its Instant Payment System in the country by the end of 2019.
– To aid the government’s vision of a less cash-dependent society, banks in Azerbaijan are going digital. In January 2019, Pasha Bank introduced online bank account opening in five minutes for individuals and entrepreneurs. And in October 2018, Kapital Bank upgraded its BirBank mobile app to include QR code-based payments called QR-Pay. As of April 2019 over 500,000 users had downloaded the app. The increased focus on digitalization is anticipated to further drive electronic payments in the country.
– In December 2016 the central bank sanctioned amendments to the Law On Non-Cash Settlements effective from January 2017. As per the law, all monthly cash transactions were capped at AZN30,000 ($17,681.50) for VAT-registered businesses with monthly transactions worth over AZN200,000 ($117,876.63). Similarly, monthly cash payments for other taxpayers were limited to AZN15,000 ($8,840.75). All transactions over the relevant value must be paid electronically. Individuals who do not comply with the law will be fined 10% of the transaction amount, with subsequent increases to 20% and 40% if the offence is repeated a second and third time. In addition, the law also mandates that all salaries should be paid using non-cash methods. These measures are expected to encourage cashless payments in the country over the coming years.

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

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Table of Contents
Market Overview
Card-based Payments
E-commerce Payments
Alternative Payments
Payment Innovations
Payments Infrastructure & Regulation

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