Albany, NY -- (SBWIRE) -- 07/10/2013 -- The report provides market analysis, information and insights into Azerbaijan's cards and payments market, including:

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- Current and forecast values for each category of Azerbaijan's cards and payments industry including debit cards and credit cards
- Comprehensive analysis of the industry’s market attractiveness and future growth areas
- Analysis of various market drivers and regulations governing Azerbaijan's cards and payments industry
- Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid cards used by various bankers and other institutions in the market
- Comprehensive analysis of consumer attitudes and their buying preferences for cards
- Competitive landscape of Azerbaijan's cards and payments industry

Executive summary

Azerbaijan’s card payments channel demonstrated robust growth during the review period. Improved banking infrastructure, a shift towards card-based payments and government efforts to accelerate cashless transactions in the country contributed to the growth of the channel during the review period. The card payments channel grew from 3.6 million cards in 2008 to 4.9 million in 2012, at a CAGR of 7.86%. The total number of cards is expected to grow to 6.1 million at a CAGR of 3.80% over the forecast period. Card payments recorded high growth during the review period to overtake credit transfers in 2011. Card payments recorded a CAGR of 18.15% during the review period to be valued at AZN7.8 billion (US$9.9 billion) in 2012, higher than the credit transfer value of AZN7 billion (US$8.9 billion). The government of Azerbaijan has taken several initiatives to increase the volume of card-based payments in the country.

In May 2013, the government, along with Visa, introduced a marketing campaign, ‘Life is easier with Visa’ to promote the usage of Visa cards. Growth in internet penetration has resulted in increased online retail sales in the country. According to the State Statistical Committee of Azerbaijan, online retail sales are forecast to reach AZN 6.4 million (US$8.1 million) by the end of 2017.

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Scope

- This report provides a comprehensive analysis of Azerbaijan's cards and payments industry
- It provides current values for Azerbaijan's cards and payments industry for 2012 and forecast figures for 2017
- It details the different macroeconomic, infrastructural, consumer and business drivers affecting Azerbaijan's cards and payments industry
- It outlines the current regulatory framework in the industry
- It details the marketing strategies used by various bankers and other institutions
- It profiles the major banks in Azerbaijan's cards and payments industry

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