Payments Landscape in Azerbaijan: Trends, Opportunities and Risks to 2021

Market Research HUB Market Research HUB

Albany, US, 2018-May-12 — /EPR Network/ — An up-to-date research report has been disclosed by Market Research Hub highlighting the title “Payments Landscape in Azerbaijan: Opportunities and Risks to 2021“. This report provides a comprehensive overview of trends and developments in banking industry. This report provides detailed analysis of market trends in the Azerbaijan’s cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including payment cards and credit transfers during the review-period (2013-17e).

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 (2017-21f). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas 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.

This report provides top-level market analysis, information and insights into the Azerbaijan’s cards and payments industry, including –
– Current and forecast values for each market in the Azerbaijan’s cards and payments industry, including debit, and credit cards.
– Detailed insights into payment instruments including payment cards and credit transfers. 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 the Azerbaijan’s cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, and credit cards.

Scope

– To foster electronic payments in the country, in February 2018 the central bank of Azerbaijan announced its plan to launch an instant payment system in the near future, with funds made available to recipients within five to 10 seconds. The introduction of real-time payments is part of the governments strategic roadmap for development of financial services, introduced in December 2016.

– Alternative payments are also expected to gain prominence, with banks and payment solution providers launching new payment options. Wallet One is an e-wallet launched in Azerbaijan in January 2017. The wallet offers a multi-currency account and allows users to make online payments, pay for public services, and make money transfers. Wallet One has collaborated with over 10,000 service providers, and has 500,000 top-up points worldwide. Meanwhile the Azerpay mobile wallet was launched in Azerbaijan in February 2016, allowing users to make P2P, in-store, and utility bill payments.
– To promote electronic payments and to reduce the countrys dependence on cash, the Law on Non-Cash Payments was introduced in January 2017. As part of the law the central bank and Mastercard launched the Cashless Azerbaijan project in February 2017. The project comprises three stages: evaluation of Azerbaijans cash economy, strategy development for non-cash payments, and the preparation of an action plan. The government also introduced a new Law on Non-Cash Settlements effective from January 2017. The law mandated that certain transactions – such as education fees, tax payments, payments to government bodies and authorities, utility bill payments, and payments to travel agencies – must be via non-cash methods. A penalty of 10% of the transaction amount (with subsequent increases to 20% and 40% if repeated a second and third time) will be imposed upon individuals who do not adhere to the law.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the Azerbaijan’s cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the Azerbaijan’s cards and payments industry.
– Assess the competitive dynamics in the Azerbaijan’s cards and payments industry.
– Gain insights into marketing strategies used for various card types in Azerbaijan
– Gain insights into key regulations governing the Azerbaijan’s cards and payments industry.

Enquire about this Report- https://www.marketresearchhub.com/enquiry.php?type=enquiry&repid=1769973

About Market Research Hub

Market Research Hub (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.

MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.

Contact Us         

90 State Street,
Albany, NY 12207,
United States
Toll Free: – 800-998-4852 (US-Canada)
Email:- press@marketresearchhub.com
Website:- https://www.marketresearchhub.com/

 

Matched content

Editor’s pick