Mastercard achieves 4-fold growth in e-commerce in Azerbaijan


November 29, Fineko/abc.az. Mastercard reports effectiveness of implementation of project ‘Cashless Azerbaijan’.

During the press conference Mastercard’s manager for Azerbaijan Erdem Chakar has stated that growth of e-commerce has been achieved as a result of cooperation with Turkey’s Amazon.

"As a result of this cooperation, special discounts have been developed and introduced for Azerbaijani customers, that led to a 4-fold rise in turnover in Azerbaijan," Chakar said.

He pointed out that Mastercard is interested to foster non-cash payments in Azerbaijan and intends to contribute to Azerbaijan’s transformation into the non-cash payment leader in the region.

According to Chakar, currently non-cash payments make up 3.5-4% of GDP, despite the fact that this figure reaches 40% in Turkey and some European countries.