Azerbaijan is experiencing a rapid shift toward digital payments, with e-commerce emerging as the dominant force in the country’s cashless economy.

According to the Central Bank of Azerbaijan, non-cash transactions reached 8.2 billion manats in February 2026, marking a 15% year-on-year increase. Notably, e-commerce accounted for 7.17 billion manats, representing 87.5% of all cashless payments.

POS terminals contributed 1.026 billion manats, while self-service terminals remained minimal at just 3 million manats.

Digital Payments Accelerate Across Azerbaijan

The growth reflects a broader transformation in consumer behavior, with digital channels increasingly replacing traditional payment methods. Since the beginning of 2026, domestic non-cash transactions using payment cards have made up nearly 70% of total card activity, highlighting strong adoption of digital finance solutions.

At the same time, payment infrastructure continues to expand rapidly. The number of POS terminals surged by 49.1%, while ATMs increased by 7%, improving accessibility nationwide.

Card Usage Trends Signal Market Shift

As of March 1, the total number of payment cards in circulation reached 22.3 million, reflecting steady growth both monthly and annually. Debit cards continue to dominate the market, rising by 12.8% year-on-year, while credit card usage declined by 8.5%.

This trend indicates a preference for direct spending and tighter financial control among consumers, aligning with broader global patterns in digital payments.

What It Means for E-Commerce

The overwhelming share of e-commerce in non-cash transactions underscores its central role in Azerbaijan’s digital economy. As infrastructure expands and consumer confidence grows, the sector is expected to continue driving financial innovation and shaping the future of commerce in the region.

Source: AzerNews