Baku:The volume of cashless payments in Azerbaijan reached 53.1 billion manats in the first half of 2026, as reported by Zakir Nuriyev, President of the Azerbaijan Banks Association (ABA), during a fintech forum of Turkic states held in Baku.
According to Azeri-Press news agency, Nuriyev stated that the growth trend in cashless payments observed in 2025 is continuing this year. He highlighted that with the results from the first six months, the volume has already reached a significant milestone, indicating that last year’s record will likely be surpassed by the end of 2026.
Expanding cashless payments is a key priority for developing a cashless economy in Azerbaijan. Nuriyev emphasized the importance of enhancing the Instant Payments System and other digital solutions, along with developing open banking. By integrating the infrastructure and customer base of banks with the technological capabilities of fintech companies, new services can be offered to a broader audience. This cooperation is expected to result in more convenient services for citizens and cost-effective payment solutions for entrepreneurs.