DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/q4h3xf/emerging) has announced the addition of the "Emerging Opportunities in Azerbaijan's Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive Landscape" report to their offering.
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.
Key Topics Covered:
1 Executive Summary
2 Market Attractiveness and Future Prospects of the Cards and Payments Industry
3 Analysis of Azerbaijan's Cards and Payments Industry Drivers
4 Emerging Consumer Attitudes and Trends
5 Competitive Landscape and Industry Dynamics
6 Strategies Adopted by Key Operators
7 Size and Growth Potential of the Card Payments Channel
8 Company Profiles, Products and Marketing Strategies
- Bank Respublika
- Bank Standard
- International Bank of Azerbaijan
- Pasha Bank
- Xalq Bank Unibank
For more information visit http://www.researchandmarkets.com/research/q4h3xf/emerging.