Bank reports huge numbers for plastic cards

The International Bank of Azerbaijan in the Azerbaijan Republic, reportedly issued more than 223,000 plastic cards in 2010.

The number of the bank’s active cards is approximately 1.8 million and the volume of card transactions increased to more than $50 million in 2010, with the total amounting to $2.7 billion. In 2002, the bank only had 28,000 cards active with a turnover of $71 million.

IBA covers more than 50 cities, 605 ATMs and 65 information kiosks offering all card transactions. Cities include Baku, Nakhchivan, Sumgayit, Ganja, Shirvan and Mingachevir.

"Having [our] own processing center allows improving the quality of customer services and provides new products which meet modern requirements," the bank said. "We’ve also attracted 2,500 trade and service outlets to accept payment through plastic cards.”

The number of cards IBA issued this past year is indicative of the overall increase in cards shipped. The payment and banking sector saw a 15 percent increase in shipping volumes, according to ABI and projects these numbers continuing to increase.

Related ID News:

1. Azerbaijan banks invest more in plastic cards market
2. Smart cards seeing huge return
3. VTB Bank offers pensions by plastic cards
4. Bank issues smart cards to villages
5. Ghana bank plans to increase use in biometric cards

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This entry was posted on Tuesday, February 1st, 2011 at 4:52 am and is filed under Plastic Cards News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.