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The Cards and Payments Industry in Azerbaijan: Emerging trends and opportunities to 2020

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The Cards and Payments Industry in Azerbaijan: Emerging trends and opportunities to 2020

Summary

GlobalData's "The Cards and Payments Industry in Azerbaijan: Emerging trends and opportunities to 2020" 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 credit transfers, and payment cards during the review-period (2012-16e).

The 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 (2016-20f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData's 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.

The 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 credit transfers, and payment cards. It also, includes an overview of the country's key alternative payment instruments.

E-commerce market analysis.

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

To promote electronic payments and to reduce dependence on cash, the government introduced a new regulation in December 2016, according to which monthly cash transactions are capped at $16,650.90 (AZN30,000) for VAT-registered businesses with monthly transactions over $111,006.30 (AZN200,000). Similarly, monthly cash payments for other tax payers have been limited to $8,325.50 (AZN15,000). All transactions over the relevant value must be paid electronically. The regulation was made effective from January 1, 2017 for other tax payers, and from 1 April, 2017 for VAT-registered tax payers. These measures are aimed at encouraging cashless payments.

Banks are now also offering dual cards with the functionality of both debit and credit cards. Kapital Bank introduced the Visa Dual Card in Azerbaijan in May 2016, the first debit and credit card utilizing only one chip. The chip of the new card contains the numbers of both cards, which enables the card holder to use it as a debit and a credit card. The card can be linked to more than one account, in currencies including Azerbaijani manats, US dollars, and euros.

Growth in the payment cards market has encouraged several international payment processors to establish their operations in the country. For instance, JCB International, the international operations unit of Japanese credit card issuer and acquirer JCB, launched JCB merchant acquiring operations in Azerbaijan with the International Bank of Azerbaijan (IBA) in February 2016. The move enables JCB cards to be accepted at all the bank's acceptance locations across Azerbaijan.

Reasons to buy

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.

READ MORE

Table Of Content

Scope

Table of Contents

EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 3

1.3. Top five industry events 4

2. PAYMENT INSTRUMENTS 10

2.1. Current payment environment 10

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 12

3.1. E-commerce market analysis 12

3.2. Alternative payment solutions 13

3.2.1. PayPal 13

3.2.2. Wallet One 13

3.2.3. Azerpay 13

3.2.4. Visa QIWI wallet 14

3.2.5. Fortumo 14

3.2.6. AzeriCard mobile payment service 14

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 15

4.1. Regulatory framework 15

4.1.1. Regulatory requirements for card issuance 15

4.1.2. Regulatory requirements for the issue of corporate cards 15

4.1.3. Regulatory framework for the conduct of card operations 15

4.1.4. Framework for risk management 16

4.2. Anti-money laundering 16

4.3. Foreign direct investment regulations 16

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 17

6. PAYMENT CARDS 19

7. DEBIT CARDS 21

7.1. Debit card market analysis 21

7.2. Competition in the debit card market 23

7.3. Debit card comparison 25

8. PAY-LATER CARDS 26

8.1. Pay-later card market analysis 26

8.2. Competition in the pay-later card market 28

8.3. Pay-later card comparison 30

9. APPENDIX 31

9.1. Abbreviations and acronyms 31

9.2. Supplementary data 32

9.3. Definitions 39

9.4. Methodology 41

9.5. Bibliography 43

9.6. Further reading 43


List Of Figure

List of Figures

Figure 1: Azerbaijan: payment instrument shares by transaction value (%), 2012 vs 2016 10

Figure 2: Azerbaijan: payment instrument shares by transaction volume (%), 2012 vs 2016 11

Figure 3: Azerbaijan: e-commerce market value 12

Figure 4: Azerbaijan: population and economic indicators 17

Figure 5: Azerbaijan: ATMs, POS terminals, and household consumption 18

Figure 6: Azerbaijan: payment cards transaction value and cards in circulation, 2012-20f 19

Figure 7: Azerbaijan: debit card penetration and turnover per card 21

Figure 8: Azerbaijan: debit card scheme and issuer transaction value shares, 2016 23

Figure 9: Azerbaijan: pay-later card penetration and turnover per card 26

Figure 10: Azerbaijan: pay-later card scheme and issuer transaction value shares, 2016 28


List Of Table

List of Tables

Table 1: Azerbaijan: key facts, 2016 3

Table 2: Azerbaijan: regional benchmarking of payment cards, 2016 3

Table 3: Azerbaijan: mode of entry of foreign banks 16

Table 4: Azerbaijan: debit card comparison and key features, 2016 25

Table 5: Azerbaijan: gold credit cards comparison and key features, 2016 30

Table 6: Azerbaijan: premium credit cards comparison and key features, 2016 30

Table 7: Azerbaijan: payment instrument transaction values (AZNbn), 2012-16e 32

Table 8: Azerbaijan: payment instrument transaction values ($bn), 2012-16e 32

Table 9: Azerbaijan: payment instrument transaction volumes (millions), 2012-16e 32

Table 10: Azerbaijan: payment cards in circulation by type (millions), 2012-20f 32

Table 11: Azerbaijan: volume of payment card transactions (millions), 2012-20f 32

Table 12: Azerbaijan: value of payment card transactions (AZNbn), 2012-20f 33

Table 13: Azerbaijan: value of payment card transactions ($bn), 2012-20f 33

Table 14: Azerbaijan: debit cards in circulation (millions), 2012-20f 33

Table 15: Azerbaijan: debit card transaction volumes, 2012-20f 33

Table 16: Azerbaijan: debit card transaction values (AZN), 2012-20f 34

Table 17: Azerbaijan: debit card transaction values ($), 2012-20f 34

Table 18: Azerbaijan: debit cards in circulation by scheme (000s), 2012-16e 34

Table 19: Azerbaijan: debit card transaction values by scheme (AZNm), 2012-16e 34

Table 20: Azerbaijan: debit card transaction values by scheme ($m), 2012-16e 35

Table 21: Azerbaijan: debit card transaction values by issuer (AZNm), 2012-16e 35

Table 22: Azerbaijan: debit card transaction values by issuer ($m), 2012-16e 35

Table 23: Azerbaijan: pay-later cards in circulation (000s), 2012-20f 35

Table 24: Azerbaijan: pay-later card transaction volumes, 2012-20f 36

Table 25: Azerbaijan: pay-later card transaction values (AZN), 2012-20f 36

Table 26: Azerbaijan: pay-later card transaction values ($), 2012-20f 36

Table 27: Azerbaijan: pay-later cards in circulation by scheme (000s), 2012-16e 37

Table 28: Azerbaijan: pay-later card transaction values by scheme (AZNm), 2012-16e 37

Table 29: Azerbaijan: pay-later card transaction values by scheme ($m), 2012-16e 37

Table 30: Azerbaijan: pay-later card transaction values by issuer (AZNm), 2012-16e 37

Table 31: Azerbaijan: pay-later card transaction values by issuer ($m), 2012-16e 38

Table 32: Key definitions 39

Licence Rights

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

Section Purchase

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

Products and Companies

Products

The cards and payments industry in Azerbaijan, Financial cards, Debit cards, Credit cards, E-commerce, Alternative payments


Companies

Kapital Bank

International Bank of Azerbaijan

Bank Technique

AG Bank

Express Bank

Bank of Baku

Unibank

Yapi Kredi Bank

Visa

Mastercard

The Cards and Payments Industry in Azerbaijan: Emerging trends and opportunities to 2020

Summary

GlobalData's "The Cards and Payments Industry in Azerbaijan: Emerging trends and opportunities to 2020" 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 credit transfers, and payment cards during the review-period (2012-16e).

The 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 (2016-20f). It also offers information on the country's competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalData's 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.

The 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 credit transfers, and payment cards. It also, includes an overview of the country's key alternative payment instruments.

E-commerce market analysis.

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

To promote electronic payments and to reduce dependence on cash, the government introduced a new regulation in December 2016, according to which monthly cash transactions are capped at $16,650.90 (AZN30,000) for VAT-registered businesses with monthly transactions over $111,006.30 (AZN200,000). Similarly, monthly cash payments for other tax payers have been limited to $8,325.50 (AZN15,000). All transactions over the relevant value must be paid electronically. The regulation was made effective from January 1, 2017 for other tax payers, and from 1 April, 2017 for VAT-registered tax payers. These measures are aimed at encouraging cashless payments.

Banks are now also offering dual cards with the functionality of both debit and credit cards. Kapital Bank introduced the Visa Dual Card in Azerbaijan in May 2016, the first debit and credit card utilizing only one chip. The chip of the new card contains the numbers of both cards, which enables the card holder to use it as a debit and a credit card. The card can be linked to more than one account, in currencies including Azerbaijani manats, US dollars, and euros.

Growth in the payment cards market has encouraged several international payment processors to establish their operations in the country. For instance, JCB International, the international operations unit of Japanese credit card issuer and acquirer JCB, launched JCB merchant acquiring operations in Azerbaijan with the International Bank of Azerbaijan (IBA) in February 2016. The move enables JCB cards to be accepted at all the bank's acceptance locations across Azerbaijan.

Reasons to buy

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.

READ MORE

Scope

Table of Contents

EXECUTIVE SUMMARY 2

1.1. Market overview 2

1.2. Key facts 3

1.3. Top five industry events 4

2. PAYMENT INSTRUMENTS 10

2.1. Current payment environment 10

3. E-COMMERCE AND ALTERNATIVE PAYMENTS 12

3.1. E-commerce market analysis 12

3.2. Alternative payment solutions 13

3.2.1. PayPal 13

3.2.2. Wallet One 13

3.2.3. Azerpay 13

3.2.4. Visa QIWI wallet 14

3.2.5. Fortumo 14

3.2.6. AzeriCard mobile payment service 14

4. REGULATIONS IN THE CARDS AND PAYMENTS INDUSTRY 15

4.1. Regulatory framework 15

4.1.1. Regulatory requirements for card issuance 15

4.1.2. Regulatory requirements for the issue of corporate cards 15

4.1.3. Regulatory framework for the conduct of card operations 15

4.1.4. Framework for risk management 16

4.2. Anti-money laundering 16

4.3. Foreign direct investment regulations 16

5. ANALYSIS OF CARDS AND PAYMENTS INDUSTRY DRIVERS 17

6. PAYMENT CARDS 19

7. DEBIT CARDS 21

7.1. Debit card market analysis 21

7.2. Competition in the debit card market 23

7.3. Debit card comparison 25

8. PAY-LATER CARDS 26

8.1. Pay-later card market analysis 26

8.2. Competition in the pay-later card market 28

8.3. Pay-later card comparison 30

9. APPENDIX 31

9.1. Abbreviations and acronyms 31

9.2. Supplementary data 32

9.3. Definitions 39

9.4. Methodology 41

9.5. Bibliography 43

9.6. Further reading 43


List Of Figure

List of Figures

Figure 1: Azerbaijan: payment instrument shares by transaction value (%), 2012 vs 2016 10

Figure 2: Azerbaijan: payment instrument shares by transaction volume (%), 2012 vs 2016 11

Figure 3: Azerbaijan: e-commerce market value 12

Figure 4: Azerbaijan: population and economic indicators 17

Figure 5: Azerbaijan: ATMs, POS terminals, and household consumption 18

Figure 6: Azerbaijan: payment cards transaction value and cards in circulation, 2012-20f 19

Figure 7: Azerbaijan: debit card penetration and turnover per card 21

Figure 8: Azerbaijan: debit card scheme and issuer transaction value shares, 2016 23

Figure 9: Azerbaijan: pay-later card penetration and turnover per card 26

Figure 10: Azerbaijan: pay-later card scheme and issuer transaction value shares, 2016 28


List Of Table

List of Tables

Table 1: Azerbaijan: key facts, 2016 3

Table 2: Azerbaijan: regional benchmarking of payment cards, 2016 3

Table 3: Azerbaijan: mode of entry of foreign banks 16

Table 4: Azerbaijan: debit card comparison and key features, 2016 25

Table 5: Azerbaijan: gold credit cards comparison and key features, 2016 30

Table 6: Azerbaijan: premium credit cards comparison and key features, 2016 30

Table 7: Azerbaijan: payment instrument transaction values (AZNbn), 2012-16e 32

Table 8: Azerbaijan: payment instrument transaction values ($bn), 2012-16e 32

Table 9: Azerbaijan: payment instrument transaction volumes (millions), 2012-16e 32

Table 10: Azerbaijan: payment cards in circulation by type (millions), 2012-20f 32

Table 11: Azerbaijan: volume of payment card transactions (millions), 2012-20f 32

Table 12: Azerbaijan: value of payment card transactions (AZNbn), 2012-20f 33

Table 13: Azerbaijan: value of payment card transactions ($bn), 2012-20f 33

Table 14: Azerbaijan: debit cards in circulation (millions), 2012-20f 33

Table 15: Azerbaijan: debit card transaction volumes, 2012-20f 33

Table 16: Azerbaijan: debit card transaction values (AZN), 2012-20f 34

Table 17: Azerbaijan: debit card transaction values ($), 2012-20f 34

Table 18: Azerbaijan: debit cards in circulation by scheme (000s), 2012-16e 34

Table 19: Azerbaijan: debit card transaction values by scheme (AZNm), 2012-16e 34

Table 20: Azerbaijan: debit card transaction values by scheme ($m), 2012-16e 35

Table 21: Azerbaijan: debit card transaction values by issuer (AZNm), 2012-16e 35

Table 22: Azerbaijan: debit card transaction values by issuer ($m), 2012-16e 35

Table 23: Azerbaijan: pay-later cards in circulation (000s), 2012-20f 35

Table 24: Azerbaijan: pay-later card transaction volumes, 2012-20f 36

Table 25: Azerbaijan: pay-later card transaction values (AZN), 2012-20f 36

Table 26: Azerbaijan: pay-later card transaction values ($), 2012-20f 36

Table 27: Azerbaijan: pay-later cards in circulation by scheme (000s), 2012-16e 37

Table 28: Azerbaijan: pay-later card transaction values by scheme (AZNm), 2012-16e 37

Table 29: Azerbaijan: pay-later card transaction values by scheme ($m), 2012-16e 37

Table 30: Azerbaijan: pay-later card transaction values by issuer (AZNm), 2012-16e 37

Table 31: Azerbaijan: pay-later card transaction values by issuer ($m), 2012-16e 38

Table 32: Key definitions 39

Single User License:
Report can be used by individual purchaser only

Site License:
Report can be shared by unlimited users within one corporate location, e.g. a regional office

Corporate User License: 
Report can be shared globally by unlimited users within the purchasing corporation e.g. all employees of a single company

To know more information on Purchase by Section, please send a mail to support@kenresearch.com

Products

The cards and payments industry in Azerbaijan, Financial cards, Debit cards, Credit cards, E-commerce, Alternative payments


Companies

Kapital Bank

International Bank of Azerbaijan

Bank Technique

AG Bank

Express Bank

Bank of Baku

Unibank

Yapi Kredi Bank

Visa

Mastercard

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