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).

1. Emerging Opportunities in Azerbaijans Cards and Payments Industry: Market Size, Trends and Drivers,
Strategies, Products and Competitive Landscape
Synopsis
The report provides market analysis, information and insights into Azerbaijan's cards and payments market,
including:
Current and forecast values for each category of Azerbaijan's cards and payments industry including debit
cards and credit cards Comprehensive analysis of the industry’s market attractiveness and future
growth areas Analysis of various market drivers and regulations governing Azerbaijan's cards and payments
industry Detailed analysis of the marketing strategies adopted for selling debit, credit, charge and prepaid
cards used by various bankers and other institutions in the market Comprehensive analysis of consumer
attitudes and their buying preferences for cards Competitive landscape of Azerbaijan's cards and payments
industry
Executive summary
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. According to the State Statistical Committee of Azerbaijan, online retail sales
are forecast to reach AZN 6.4 million (US$8.1 million) by the end of 2017.
Scope
This report provides a comprehensive analysis of Azerbaijan's cards and payments industry It provides
current values for Azerbaijan's cards and payments industry for 2012 and forecast figures for 2017 It details
the different macroeconomic, infrastructural, consumer and business drivers affecting Azerbaijan's cards and
payments industry It outlines the current regulatory framework in the industry It details the marketing
strategies used by various bankers and other institutions It profiles the major banks in Azerbaijan's cards and
payments industry
Reasons to buy
Make strategic business decisions using 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
within Azerbaijan's cards and payments industry Assess the competitive dynamics in Azerbaijan's cards and
payments industry Gain insights into the marketing strategies used for selling various types of cards in
Azerbaijan Gain insights into key regulations governing Azerbaijan's cards and payment industry
Key highlights
Emerging Opportunities in Azerbaijans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive

2. 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.
During the review period, the highest growth was registered in the credit cards category with a CAGR of
20.72%. The government is also planning to offer a number of benefits to citizens who use cards for making
payments. For instance, card payments might not be subjected to value added tax (VAT). The Transport
Ministry introduced a single-card system across public transport buses, enabling passengers to pay bus fares
using their cards instead of cash. The system is expected to be completed by 2015. In December 2012,
MasterCard announced plans to introduce contactless cards in Azerbaijan by the end of the first half of 2013.
table Of Contents
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
3.1 Infrastructure Drivers
3.1.1 Increasing Number Of Atms And Pos Terminals
3.1.2 Increasing Internet Users
3.1.3 Emergence Of New Technologies
3.2 Business Drivers
3.2.1 Virtual Payment Cards
3.2.2 Growing Retail Industry
3.2.3 Increasing Outbound Tourism
3.3 Macroeconomic Fundamentals
3.3.1 Declining Inflation
3.3.2 Urban And Rural Populations
3.4 Card Fraud Statistics
3.5 Regulatory Framework
4 Emerging Consumer Attitudes And Trends
4.1 Industry Segmentation And Targeting
4.1.1 Retail Segment
4.1.2 Corporate Segment
4.2 Consumer Preference
4.2.1 Price
4.2.2 Services
4.2.3 Convenience
Emerging Opportunities in Azerbaijans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive

3. 5 Competitive Landscape And Industry Dynamics
5.1 Industry Share Analysis By Credit Transfer And Card Payments Channels
5.1.1 Credit Transfer
5.1.2 Card Payments
5.2 Debit Cards Category Share
5.2.1 By Bank
5.2.2 By Scheme
5.3 Credit Cards Category Share
5.3.1 By Scheme
6 Strategies Adopted By Key Operators
6.1 Market Entry Strategies
6.2 Marketing And Product Strategy
6.2.1 Debit Cards
6.2.2 Credit Cards
6.3 Pricing Strategies
7 Size And Growth Potential Of The Card Payments Channel
7.1 Channel Share Analysis By Card Category
7.2 Size And Forecast Of The Card Payments Channel
7.2.1 Analysis By Number Of Cards
7.2.2 Analysis By Transaction Value
7.2.3 Analysis By Transaction Volume
7.3 Debit Cards Category Size And Forecast
7.3.1 Analysis By Number Of Cards
7.3.2 Analysis By Transaction Value
7.3.3 Analysis By Transaction Volume
7.3.4 Other Key Performance Indicators
7.4 Credit Cards Category Size And Forecast
7.4.1 Analysis By Number Of Cards
7.4.2 Analysis By Transaction Value
7.4.3 Analysis By Transaction Volume
7.4.4 Other Key Performance Indicators
8 Company Profiles, Products And Marketing Strategies
8.1 International Bank Of Azerbaijan (iba)
8.1.1 International Bank Of Azerbaijan Key Financials
8.1.2 Card Portfolio
8.1.3 Strategies
8.2 Accessbank
Emerging Opportunities in Azerbaijans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive

4. 8.2.1 Accessbank Key Financials
8.2.2 Card Portfolio
8.2.3 Strategies
8.3 Bank Respublika
8.3.1 Bank Respublika Key Financials
8.3.2 Card Portfolio
8.3.3 Strategies
8.4 Kapital Bank
8.4.1 Kapital Bank Key Financials
8.4.2 Card Portfolio
8.4.3 Strategies
8.5 Xalq Bank
8.5.1 Xalq Bank Key Financials
8.5.2 Card Portfolio
8.5.3 Strategies
9 Appendix
9.1 Methodology
9.2 Contact Us
9.3 About Timetric
9.4 Disclaimer
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Emerging Opportunities in Azerbaijans Cards and Payments Industry: Market Size, Trends and Drivers, Strategies, Products and Competitive