Payment methods in Azerbaijan

Asia

5methods

91% of all payments in Azerbaijan are electronic as of early 2025.

Market takeaways

91% of all payments in Azerbaijan are electronic as of early 2025.
Over 18.9 million payment cards in circulation — approximately 2 cards per person.
M10 (PashaPay) leads with over 5 million users; named top financial app on App Store and Google Play in Azerbaijan.
Card turnover exceeded 126 billion manats (US$74 billion) in 2024, up 27% year-on-year.
Digital payment transactions rose 62.9% in the first nine months of 2024; contactless transactions doubled.

Population

10.1M

Online population

~8.5M

Banked population

~84%

Credit card population

~40%

Payment method breakdown

Card55%
Cash9%
E-Wallet / Mobile30%
Bank Transfer6%

Card scheme breakdown

Market data coming soon.

Cross-border e-commerce

Market data coming soon.

Featured payment methods in Azerbaijan

Popular options based on coverage and prominence in this market.

Birbank

A leading digital bank in Azerbaijan and part of the broader BIR financial ecosystem. Birbank provides full banking services via mobile, integrated with M10 for payments and transfers. The BIR ecosystem has strategic partnerships with Trendyol Azerbaijan and BakıKart (Baku's transit card).

ABB Pay / Bank Apps

International Bank of Azerbaijan (ABB) and other state-affiliated banks provide mobile banking apps supporting transfers and card management. These platforms serve the mass market and support the government's push toward cashless payments.

Visa / Mastercard

Both international schemes are widely issued in Azerbaijan. Card turnover exceeded AZN 126 billion (US$74 billion) in 2024. Contactless card transactions doubled in 2024, reflecting rapid infrastructure modernization.

PashaPay (corporate payments)

PashaPay also operates as a business-oriented payment processing platform, enabling merchants to accept card and digital wallet payments. It serves as the infrastructure layer connecting M10 consumer wallets with merchant acceptance.

M10 (PashaPay)

Azerbaijan's most popular finance app, operated by PashaPay. M10 has over 5 million users and has been recognized by PanFinance for "Digital Transformation of Payment Services" in 2024. It supports peer-to-peer transfers, merchant QR payments, bill payments, and sits at the top of both App Store and Google Play rankings in Azerbaijan. Part of the BIR ecosystem (also including Birbank and Birmarket).