2. Cards Overview
The cards overview section of the Eurasian Digital & Card Payment Yearbook 2024-2025 is composed of comparative statistics from the issuer bank point of view reviewing the latest available card data from 2019 to end-2023. National Central Bank statistics are the primary source for the Eurasian states, supplemented with respect to Russian figures by the BIS.
All Eurasian retail banks issue cards. Debit cards issued with international brands are Debit Mastercard, Maestro, VISA Debit and Electron cards. The majority of credit cards are cards branded VISA or Mastercard. A few banks issue prepaid cards and virtual cards. In Eurasia, there are no V PAY cards in circulation.
From July 2023, banks and other card issuers will no longer issue Maestro cards. Instead, they will need to issue Debit Mastercard. Maestro was launched in 1991 and was the world’s first debit card that could be used via an online network. About 400 million Maestro cards are in circulation worldwide, mainly across Europe. However, Maestro is not enabled for the demands of e-commerce and cannot be used for online or in-app payments, hence the decision to phase it out in favour of Mastercard Debit products. Visa announced that Electron cards will be phased out globally in 2024. The features of the Visa Debit card have been modified to match the features of the Visa Electron card.
Most countries in the region have followed the example of western Europe and launched or attempted to launch a unified domestic interbank card scheme, usually combined with a national card processing centre.
The domestic card schemes include MIR (RUS), PROSTIR (UA), BelKart (BY), ArCa (AM), Azeri (AZ), Elcart (KG), Altyn (KZ) and UzKart (UZ).
It is noted, that the rollout of contactless cards and contactless POS terminals continued in most of the Eurasian countries.
In addition, the digital wallet MasterPass is supported by Ukrainian and Russian issuer banks and Kazakh and other Eurasian Banks support Visa Checkout, as but as of 2023 these services are being replaced by Click-to-Pay, a joint scheme initiative for e-commerce payments. Russian banks and others across the Eurasian countries support Apple Pay, Samsung Pay, and Google Pay (previously Android Pay).
It is important to note that the impact of the COVID-19 pandemic can be seen across all card usage metrics into 2021, given that lockdowns and restrictions severely curtailed card usage in physical locations. ATM withdrawals declined while remote online card payments accelerated. While card usage at physical POS locations was also limited to some degree, many markets experienced an uptick in POS transactions. Since 2021, as restrictions have been lifted, growth trends have returned to pre-pandemic levels and in many cases, such as contactless and remote payments, have accelerated in volume and value.
Regional Summary
The countries covered in this Yearbook are Russia, Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyz Republic, Moldova, Ukraine and Uzbekistan – 10 in all. While levels of development vary across Eurasia, all are countries which in most respects have less advanced retail banking and card payment systems than in Europe.
The countries within Eurasia, on the other hand, can be characterised as having significant potential for market growth, as the per capita figures show. In the field of cards issued, Eurasia is making good progress. In 2023, cards per capita in Eurasia averaged 2.42 cards per capita (2022: 2.09).
Table 2.1 compares cards issued and cards per capita in the respective regions based on 2023 figures.
| 2.1 - Cards by Region and Per Capita 2023 | |||
|---|---|---|---|
| Cards issued (m) | Population (m) | Cards per capita | |
| Europe | 815.51 | 450.85 | 1.81 |
| Eurasia | 681.04 | 281.31 | 2.42 |
| Note: end-2023 figures. | |||
| Note: Europe comprises E33 countries: EU27 plus UK, Iceland, Norway and Switzerland - plus Serbia and Turkey. | |||
| Note: Eurasia figures exclude Tajikistan and Turkmenistan. | |||
| Source: ECB, BIS, national central banks. | |||
Cards and Payments Per Capita
Table 2.2 summarises the number of bank-issued payment cards per capita and payments per capita, drawing on data from national central banks and payment companies. Table 2.10 below shows the five-year series in payments per capita.
Cards per capita ranged from 0.83 in Moldova to 2.38 in Georgia and 3.72 in Kazakhstan.
| 2.2 - Cards and Payments 2023 | |||||
|---|---|---|---|---|---|
| Country | Population | Cards | Payments | ||
| (millions) | (000s) | per capita | (000s) | per capita | |
| Armenia | 2.99 | 3,722.1 | 1.24 | 174,070 | 58.20 |
| Azerbaijan | 10.13 | 16,925.0 | 1.67 | 416,907 | 41.17 |
| Belarus | 9.16 | 19,237.8 | 2.10 | na | na |
| Georgia | 3.69 | 8,810.9 | 2.38 | 697,980 | 188.92 |
| Kazakhstan | 20.03 | 74,544.0 | 3.72 | 8,256,634 | 412.14 |
| Kyrgyz Republic | 7.16 | 6,890.3 | 0.96 | 109,847 | 15.34 |
| Moldova | 4.03 | 3,292.6 | 0.82 | 182,472 | 45.32 |
| Russia | 146.15 | 449,282.1 | 3.07 | 73,848,300 | 505.29 |
| Ukraine | 41.17 | 52,131.0 | 1.27 | 7,397,200 | 179.69 |
| Uzbekistan | 36.80 | 46,206.0 | 1.26 | na | na |
| Total/average | 281.31 | 681,041.7 | 2.42 | na | na |
| Note: the population figure for Moldova has been estimated. | |||||
| Note: inclusion of Tajikistan (9.5m) and Turkmenistan (6.0m) would lift total population by 15.6m to 293.8 million. | |||||
| Note: payments and payments per capita for Georgia include payments in bank branches and kiosks - see tables 2.5 and 2.7 for explanation. | |||||
| Source: national central banks, Bank for International Settlements (BIS); UN or national statistical bureau (population). | |||||
The Russian figures for the number of payments require further explanation. The only official English language source had been published by CPSS, the committee of payment and settlement systems of BIS. From 2021, the Russian central bank, CBFR, is the source of the Russian figures, respectively.
| 2.3 - BIS Summary of Russian Card Payments | |||||||
|---|---|---|---|---|---|---|---|
| (millions) | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Debit card payments | 36,371.3 | 45,169.2 | 57,208.1 | 64,247.6 | 70,137.1 | 9.17% | 21.00% |
| Credit card payments | 2,845.7 | 2,859.3 | 2,876.8 | 2,911.3 | 3,711.2 | 27.47% | 12.21% |
| Total card payments | 39,217.0 | 48,028.5 | 60,084.9 | 67,158.9 | 73,848.3 | 9.96% | 20.45% |
| - of which POS payments | 27,273.7 | 31,232.1 | 48,583.9 | 54,360.9 | 61,368.4 | 12.89% | 24.08% |
| Note: BIS does no longer publish figures from 2021. Figures from 2021 are taken from the PCM Russia profile. | |||||||
| Source: BIS. | |||||||
The CPSS figures show two sets of figures for the number of card payments. The first, ‘Transactions per type of instrument,’ is captured in the first three lines of Table 2.3 and includes use of cards at bank payment terminals in branches or kiosks – typically, utility or mobile phone bill payments.
The fourth line of the table captures what the CPSS calls ‘Transactions per type of terminal – POS payment transactions’ and is used for the payment per capita and other comparative tables in this Yearbook (see also Russia profile for more complete analysis).
Cards Issued
Reflecting its emerging market status and generally low levels of card penetration, the region’s card base has grown by 14.93% over the period 2022-2023, showing a compound growth rate of 12.02%. These figures represent an uptick compared to the CAGR of 4.65% between 2013 and 2018.
In 2023, the highest growth rates, from low baselines, were: Uzbekistan (+35.12%), the Kyrgyz Republic (+31.59%), and Azerbaijan (+27.67%).
Reflecting its specific economic and banking crisis, together with some over-enthusiastic card issuance during 2005-2007, Ukraine recorded a decline of nearly 30% in cards issued in 2008 and 2009 before making an uneven recovery with a CAGR of 5.3% from 2012. Between 2019 and 2023, the Ukrainian market grew by a CAGR of 7.13%.
| 2.4 - Total Cards Issued (000s) | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 2,390 | 2,497 | 2,703 | 3,183 | 3,722 | 16.92% | 12.96% |
| Azerbaijan | 7,266 | 9,230 | 11,040 | 13,257 | 16,925 | 27.67% | 21.05% |
| Belarus | 15,528 | 15,487 | 15,730 | 18,075 | 19,238 | 6.43% | 5.09% |
| Georgia | 6,727 | 6,883 | 6,870 | 7,817 | 8,811 | 12.71% | 3.35% |
| Kazakhstan | 32,048 | 47,966 | 59,258 | 65,080 | 74,544 | 14.54% | 26.09% |
| Kyrgyz Republic | 2,981 | 3,388 | 3,757 | 5,236 | 6,890 | 31.59% | 23.15% |
| Moldova | 2,013 | 2,182 | 2,350 | 2,801 | 3,293 | 17.55% | 11.20% |
| Russia | 285,832 | 305,623 | 334,704 | 396,636 | 449,282 | 13.27% | 10.51% |
| Ukraine | 42,158 | 40,450 | 46,289 | 46,297 | 52,131 | 12.60% | 7.13% |
| Uzbekistan | 20,547 | 25,776 | 27,106 | 34,196 | 46,206 | 35.12% | 21.17% |
| EA10 Total | 417,489 | 459,481 | 509,807 | 592,579 | 681,042 | 14.93% | 12.02% |
| Source: national central banks. | |||||||
Number of Card Transactions
Card payments are growing strongly across the region, showing a five-year CAGR of 22.5%. Government action to encourage electronic payments and digital transformation, with a view to increasing efficiencies and improving tax collections, is a major reason.
Kazakhstan reported a 37.08% growth in card payments in 2023 (2022: 31.66%), driven by the rapid uptake of contactless usage and mobile payment wallets.
Azerbaijan, with the second-fastest growth rate in card payments, is a good example. As early as 2005-2007, its ‘State Programme on Development of National Payment System in the Republic of Azerbaijan’ called for the replacement of cash with electronic payment and for the use of electronic payment systems by all businesses and individuals. This original measure has been strengthened in the intervening period; most recently, official plans were announced for all retailers with monthly sales of more than $1,000 to install EFTPOS terminals. In 2023, the total of card payments increased again by 109.33% over 2022, driven by significant growth of digital wallets.
Other countries are likely to develop in a similar fashion. Big advances in card payments were made in 2013 by Russia, Ukraine, and the Kyrgyz Republic, the latter off a small base. In Kazakhstan and Georgia, where electronic payments have become well-established, growth in card payments is expanding at a steady but less dramatic rate.
Georgia is exceptional considering its small size, with the National Bank of Georgia, the country’s central bank, reporting more than 697.98 million card payments at merchants in 2023. Despite the small population, there were more payments in Georgia than in Armenia, Azerbaijan, Kyrgyz Republic, and Moldova combined.
| 2.5 - Card Payments (000s) | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 35,801 | 59,608 | 93,919 | 115,134 | 174,070 | 51.19% | 51.59% |
| Azerbaijan | 25,564 | 48,424 | 105,091 | 199,160 | 416,907 | 109.33% | 94.71% |
| Georgia – POS payments | 251,581 | 291,949 | 382,302 | 515,001 | 697,980 | 35.53% | 31.43% |
| Kazakhstan | 1,195,417 | 2,878,476 | 6,271,337 | 8,256,634 | 11,317,866 | 37.08% | 84.89% |
| Kyrgyz Republic | 11,074 | 17,682 | 31,532 | 56,999 | 109,847 | 92.72% | 76.54% |
| Moldova | 50,918 | 70,258 | 101,561 | 135,864 | 182,472 | 34.30% | 40.18% |
| Russia | 39,216,954 | 48,028,531 | 60,084,900 | 67,158,900 | 73,848,300 | 9.96% | 20.45% |
| Ukraine | 4,167,088 | 5,211,151 | 7,039,872 | 5,795,941 | 7,397,200 | 27.63% | 19.21% |
| EA10 Total | 44,954,396 | 56,606,079 | 74,110,515 | 82,233,633 | 94,144,642 | 14.48% | 23.34% |
| Payment transactions at banks | |||||||
| Georgia | 402 | 349 | 283 | 240 | 190 | -20.83% | -18.01% |
| Note: Russian figures have been restated to show payment on cards in line with all other country data apart from Georgia. | |||||||
| Note: Armenian figures are for non-cash transactions. | |||||||
| Note: Belarus and Uzbekistan are excluded due to absence of data, so total figures are for countries present only. | |||||||
| Note: see text for Georgia figures' explanation. | |||||||
In most of the region, banks provide payment terminals, sometimes known as ‘cash-in’ terminals in branches or kiosks. These often accept card payments, typically for services such as utilities or mobile phone bills. The figures have been split out in the Georgia data; in most other countries, these payments in bank outlets may be included with POS terminal payments in merchant outlets.
ATM withdrawals on cards remain the biggest form of card usage, though their CAGR over the past five years (-6.58%) is a declining small proportion of card payments and the gap between card usage at ATM and for payments is narrowing. ATM withdrawals were a maximum of 46.1% of total card transactions (in the Kyrgyz Republic), and a minimum of 2.1% (in Kazakhstan) as Table 2.7 shows.
Georgia requires special comment because of the high level of their card payments when utility payments on cards in bank branches and kiosks are included. In 2023, 13.2% of card transactions in Georgia were ATM withdrawals, one of the lower figures for the region.
| 2.6 - ATM Withdrawals (000s) | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 31,028 | 33,924 | 40,784 | 45,578 | 49,470 | 8.54% | 12.43% |
| Azerbaijan | 75,832 | 84,240 | 99,436 | 127,837 | 162,404 | 27.04% | 19.31% |
| Georgia | 75,623 | 77,526 | 87,906 | 99,370 | 106,380 | 7.05% | 9.52% |
| Kazakhstan | 375,807 | 297,390 | 271,148 | 254,296 | 241,100 | -5.19% | -3.38% |
| Kyrgyz Republic | 36,734 | 40,924 | 52,733 | 70,987 | 94,054 | 32.49% | 24.28% |
| Moldova | 27,974 | 25,583 | 27,783 | 29,212 | 30,712 | 5.14% | 3.02% |
| Russia | 3,033,505 | 2,480,749 | 2,329,568 | 2,139,128 | 1,997,200 | -6.63% | -8.67% |
| Ukraine | 890,225 | 785,965 | 777,189 | 462,606 | 515,300 | 11.39% | -9.36% |
| EA10 Total | 4,546,727 | 3,826,301 | 3,686,547 | 3,229,013 | 3,196,620 | -1.00% | -6.58% |
| Note: Moldovan and Russian data is for domestic withdrawals on domestic cards. | |||||||
| Note: Belarus and Uzbekistan are excluded due to absence of data. | |||||||
| Source: national central banks, BIS. | |||||||
| 2.7 - Total Card Transactions (000s) | ||||
|---|---|---|---|---|
| Country | 2022 | % ATM | 2023 | % ATM |
| Armenia | 160,712 | 28.4% | 223,540 | 22.1% |
| Azerbaijan | 326,997 | 39.1% | 579,311 | 28.0% |
| Georgia | 614,371 | 16.2% | 804,360 | 13.2% |
| Kazakhstan | 8,510,930 | 3.0% | 11,558,966 | 2.1% |
| Kyrgyz Republic | 127,986 | 55.5% | 203,901 | 46.1% |
| Moldova | 165,076 | 17.7% | 213,184 | 14.4% |
| Russia | 69,298,028 | 3.1% | 75,845,500 | 2.6% |
| Ukraine | 6,258,547 | 7.4% | 7,912,500 | 6.5% |
| EA10 Total/average | 85,462,646 | 3.8% | 97,341,262 | 3.3% |
| Note: figures show ATM withdrawals as a percentage of total transactions. | ||||
| Note: Belarus and Uzbekistan are excluded due to absence of data. | ||||
| Note: Georgian figures include bill payments at banks. | ||||
| Note: Armenia figures include internet payments. | ||||
| Source: national central banks, BIS. | ||||
Bearing in mind the impact of the COVID-19 pandemic and restrictions on cash usage in many markets, ATM withdrawals by number represented 3.3% of total transactions in Eurasia in 2023, compared to 3.8% in 2022. Over the period 2019-2023, ATM withdrawals by number fell by a compound rate of –6.58%, while POS payments by number rose at a significant compound annual growth rate of 23.3%.
Value of Card transactions
Tables 2.8 and 2.9, which show payments and ATM withdrawals by value, are expressed in dollars, and are therefore significantly affected by the devaluation of local currencies.
In 2023, the total value of payments on cards (Table 2.8) was $2,086.96 billion, of which Russia accounted for $1,607.07 billion, or 77.0%. The total value of ATM withdrawals (Table 2.9) was $596.99 billion (Russia: 69.4%) and combined total transactions with cards were valued at $2,683.96 billion, representing a decline of 5.42% over 2022, and a CAGR of 12.38% between 2019 and 2023.
| 2.8 - Value of Card Expenditure ($m) | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 1,496.0 | 1,916.9 | 2,369.0 | 3,271.7 | 5,815.3 | 77.75% | 39.60% |
| Azerbaijan | 1,347.1 | 2,130.0 | 2,942.9 | 4,359.4 | 6,867.1 | 57.52% | 43.64% |
| Belarus | 19,122.2 | 21,506.9 | 24,872.7 | 29,785.3 | 32,917.7 | 10.52% | 17.65% |
| Georgia: | |||||||
| payments at merchants | 3,219.9 | 3,476.5 | 4,676.6 | 6,051.5 | 9,533.5 | 57.54% | 33.11% |
| payments at banks | 41.6 | 34.0 | 30.5 | 29.4 | 33.4 | 13.47% | -7.79% |
| Kazakhstan | 36,710.2 | 85,469.9 | 171,695.3 | 225,515.0 | 311,180.0 | 37.99% | 75.81% |
| Kyrgyz Republic | 262.5 | 242.6 | 446.2 | 1,021.2 | 2,023.4 | 98.14% | 66.41% |
| Moldova | 599.6 | 940.5 | 1,377.9 | 1,812.4 | 2,704.1 | 49.20% | 45.22% |
| Russia | 1,019,165.7 | 1,088,108.9 | 1,404,820.6 | 1,826,797.2 | 1,607,070.1 | -12.03% | 13.51% |
| Ukraine | 69,577.6 | 81,933.5 | 113,562.4 | 115,023.3 | 108,820.9 | -5.39% | 17.93% |
| EA10 Total | 1,151,542.4 | 1,285,759.7 | 1,726,794.2 | 2,213,666.4 | 2,086,965.4 | -5.72% | 17.33% |
| - thereof Russia | 88.5% | 84.6% | 81.4% | 82.5% | 77.0% | -6.69% | -3.25% |
| Note: Armenian figures are for non-cash transactions; Uzbekistan is excluded due to absence of data. | |||||||
| Note: Russian figures are for card payments which may include utility payments in banks and cash-advances at POS. | |||||||
| Source: national central banks, BIS. | |||||||
| 2.9 - Value of ATM Withdrawals ($m) | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 3,370.8 | 3,725.6 | 4,379.5 | 6,055.3 | 7,627.3 | 25.96% | 20.73% |
| Azerbaijan | 9,658.8 | 11,857.1 | 13,724.7 | 17,809.4 | 21,889.4 | 22.91% | 21.52% |
| Belarus | 15,684.9 | 14,215.5 | 13,882.7 | 16,303.5 | 15,876.0 | -2.62% | 1.60% |
| Georgia | 7,437.9 | 6,768.3 | 8,412.2 | 12,249.5 | 15,157.4 | 23.74% | 16.97% |
| Kazakhstan | 42,650.8 | 40,248.2 | 48,345.7 | 46,404.4 | 50,500.0 | 8.83% | 5.08% |
| Kyrgyz Rep. | 3,157.7 | 3,253.4 | 3,992.9 | 5,213.2 | 7,379.5 | 41.56% | 22.21% |
| Moldova | 2,925.9 | 3,072.2 | 3,724.4 | 4,076.0 | 5,086.8 | 24.80% | 13.75% |
| Russia | 422,825.4 | 374,725.6 | 401,638.9 | 461,196.4 | 414,400.0 | -10.15% | -0.42% |
| Ukraine | 68,810.6 | 64,864.6 | 73,016.2 | 54,861.1 | 59,079.5 | 7.69% | 0.35% |
| EA10 Total | 576,522.8 | 522,730.4 | 571,117.2 | 624,168.7 | 596,995.9 | -4.35% | 1.33% |
| - thereof Russia | 73.3% | 71.7% | 70.3% | 73.9% | 69.4% | -6.06% | -1.73% |
| Note: Uzbekistan is excluded due to absence of data. | |||||||
| Note: Russian data is for domestic withdrawals on domestic cards only. | |||||||
| Source: national central banks, BIS. | |||||||
ATM withdrawals by value represented 22.24% of the total transactions value in Eurasia in 2023. Over the period 2019-2023, the value of total ATM withdrawals grew at a compound annual growth rate of 1.33% in dollar terms, while the total POS payments value rose at a compound annual growth rate of 17.33% in dollar terms.
Card Transactions per Capita
Figures for annual total card payments per capita and total ATM withdrawals per capita illustrate the continued gulf between Eurasia and Europe.
In 2023, total card payments per capita showed a wide range from the Kyrgyz Republic (17.56) and Azerbaijan (42.12) up to Russia (504.22) and Kazakhstan (576.44). On average, over the EA10 countries, there were 400.45 card payments per capita in Eurasia, up by 14.10% from 2022.
| 2.10 - Card Payments per Capita | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 11.92 | 19.92 | 31.52 | 38.78 | 58.76 | 51.52% | 52.11% |
| Azerbaijan | 2.71 | 5.05 | 10.83 | 20.30 | 42.12 | 107.47% | 92.28% |
| Georgia: | |||||||
| - payments at merchants | 67.23 | 83.33 | 106.05 | 140.76 | 140.76 | 0.00% | 26.34% |
| - payments at banks | 0.11 | 0.09 | 0.08 | 0.06 | 0.06 | 0.00% | -14.33% |
| Kazakhstan | 64.98 | 154.49 | 332.18 | 431.78 | 576.44 | 33.50% | 82.02% |
| Kyrgyz Republic | 1.96 | 3.06 | 5.24 | 9.28 | 17.56 | 89.13% | 72.37% |
| Moldova | 14.31 | 19.76 | 28.58 | 38.22 | 51.44 | 34.59% | 40.27% |
| Russia | 267.37 | 327.10 | 409.40 | 458.55 | 504.22 | 9.96% | 20.44% |
| Ukraine | 91.73 | 121.39 | 164.63 | 136.10 | 174.52 | 28.22% | 20.94% |
| EA10 Average | 192.13 | 241.80 | 316.85 | 350.95 | 400.45 | 14.10% | 23.21% |
| Note: Armenian figures are for non-cash transactions. | |||||||
| Note: Belarus and Uzbekistan are excluded due to absence of data. | |||||||
| Note: average figures are approximate due to inconsistent population data. | |||||||
| Source: calculated from data in previous tables in this section. | |||||||
In 2023, total ATM withdrawals per capita in Eurasia showed a wide range from Moldova (8.72) up to Georgia (28.55). On average, over the EA10 countries, there were 13.60 total ATM withdrawals per capita in Eurasia, down by 1.33% from 2022.
| 2.11 - ATM Withdrawals per Capita | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 10.26 | 11.23 | 13.53 | 15.17 | 16.53 | 8.99% | 14.43% |
| Azerbaijan | 8.16 | 8.95 | 10.37 | 13.17 | 16.55 | 25.69% | 17.43% |
| Georgia | 20.34 | 20.86 | 23.62 | 26.65 | 28.55 | 7.12% | 9.60% |
| Kazakhstan | 20.43 | 15.96 | 14.36 | 13.30 | 12.28 | -7.66% | -4.88% |
| Kyrgyz Republic | 6.62 | 7.23 | 9.13 | 11.79 | 15.32 | 29.89% | 21.47% |
| Moldova | 7.87 | 7.21 | 7.84 | 8.26 | 8.72 | 5.45% | 3.19% |
| Russia | 20.66 | 16.90 | 15.87 | 14.61 | 13.64 | -6.63% | -8.64% |
| Ukraine | 19.54 | 17.30 | 18.10 | 10.82 | 12.10 | 11.85% | -8.08% |
| EA10 Average | 19.43 | 16.34 | 15.76 | 13.78 | 13.60 | -1.33% | -6.68% |
| Note: average figures are approximate due to inconsistent population data. | |||||||
| Note: Belarus and Uzbekistan are excluded due to absence of data | |||||||
| Source: calculated from data in previous tables in this section. | |||||||
Average Card Transaction Values (ATV)
In 2023, the average payment value on cards in Eurasia showed a wide range from Moldova ($14.82) up to Kazakhstan ($27.49). On average, over the EA10 countries, the ATV per card payment mounted for $22.17 in dollar terms.
| 2.12 - ATV per Card Payment in $ | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 41.79 | 32.16 | 25.22 | 28.42 | 33.41 | 17.57% | -7.91% |
| Azerbaijan | 52.69 | 43.99 | 28.00 | 21.89 | 16.47 | -24.75% | -26.23% |
| Georgia: | |||||||
| - payments at merchants | 12.80 | 11.91 | 12.23 | 11.75 | 13.66 | 16.24% | 1.27% |
| - payments at banks | 103.50 | 97.27 | 108.07 | 122.65 | 175.79 | 43.33% | 12.47% |
| Kazakhstan | 30.71 | 29.69 | 27.38 | 27.31 | 27.49 | 0.66% | -4.91% |
| Kyrgyz Republic | 23.70 | 13.72 | 14.15 | 17.92 | 18.42 | 2.81% | -5.74% |
| Moldova | 11.78 | 13.39 | 13.57 | 13.34 | 14.82 | 11.09% | 3.60% |
| Russia | 25.99 | 22.66 | 23.38 | 27.20 | 21.76 | -20.00% | -5.76% |
| Ukraine | 16.70 | 15.72 | 16.13 | 19.85 | 14.71 | -25.87% | -1.07% |
| ATV per card payment | 25.62 | 22.71 | 23.30 | 26.92 | 22.17 | -17.65% | -4.88% |
| Note: Belarus and Uzbekistan are excluded due to absence of data. | |||||||
| Source: calculated from data in previous tables in this section. | |||||||
In 2023, the average cash withdrawal value on cards in Eurasia showed a wide range from the Kyrgyz Republic ($78.46) up to Russia ($207.49). On average, over the EA10 countries, the ATV per cash withdrawals amounted to $186.76 in dollar terms, a decline of 3.38% from 2022.
| 2.13 - ATV per ATM Withdrawal in $ | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 108.64 | 109.82 | 107.38 | 132.86 | 154.18 | 16.05% | 7.39% |
| Azerbaijan | 127.37 | 140.75 | 138.03 | 139.31 | 134.78 | -3.25% | 1.85% |
| Georgia | 98.36 | 87.30 | 95.70 | 123.27 | 142.48 | 15.59% | 6.80% |
| Kazakhstan | 113.49 | 135.34 | 178.30 | 182.48 | 209.46 | 14.78% | 8.76% |
| Kyrgyz Republic | 85.96 | 79.50 | 75.72 | 73.44 | 78.46 | 6.84% | -1.67% |
| Moldova | 104.59 | 120.09 | 134.05 | 139.53 | 165.63 | 18.70% | 10.41% |
| Russia | 139.39 | 151.05 | 172.41 | 215.60 | 207.49 | -3.76% | 9.03% |
| Ukraine | 77.30 | 82.53 | 93.95 | 118.59 | 114.65 | -3.32% | 10.71% |
| ATV per cash withdrawal | 126.80 | 136.62 | 154.92 | 193.30 | 186.76 | -3.38% | 8.46% |
| Note: Belarus and Uzbekistan are excluded due to absence of data. | |||||||
| Source: calculated from data in previous tables in this section. | |||||||
ATM Transactions as a Percentage of Total Transactions
Over the five-year period to 2023, ATM transactions as a percentage of total transactions have fallen in all countries of Eurasia. Although it increased slightly to 22.24% in 2023 from 21.99% in 2022. Moreover, apart from the occasional blip, the year-on-year trend has been consistently downwards. Consequently, POS payments continued rising as a percentage of the total transactions. In the light of the COVID-19 pandemic, ATM usage figures for 2021 had unsurprisingly declining at a much deeper rate than in previous years.
In some countries, the trend has been uneven, but it is unmistakeable, nonetheless. Kazakhstan (2.1%), Russia (2.6%), and Ukraine (6.5%) show the biggest switch away from ATMs cash withdrawals to POS payments on cards. On average, the dynamic trend from ATM withdrawal to POS payment has been a 20.27% shift in value in one year and a compound decline of 25.15% year-on-year between 2018 and 2022.
| 2.14: ATM Transactions as a Percentage of Total Transactions | |||||||
|---|---|---|---|---|---|---|---|
| Country | 2019 | 2020 | 2021 | 2022 | 2023 | GR 22/23 | CAGR 5Y |
| Armenia | 46.4% | 36.3% | 30.3% | 28.4% | 22.1% | -21.97% | -16.91% |
| Azerbaijan | 74.8% | 63.5% | 48.6% | 39.1% | 28.0% | -28.29% | -19.29% |
| Georgia | 23.1% | 21.0% | 18.7% | 16.2% | 13.2% | -18.22% | -13.59% |
| Kazakhstan | 23.9% | 9.4% | 4.1% | 3.0% | 2.1% | -30.19% | -43.22% |
| Kyrgyz Republic | 76.8% | 69.8% | 62.6% | 55.5% | 46.1% | -16.84% | -11.13% |
| Moldova | 35.5% | 26.7% | 21.5% | 17.7% | 14.4% | -18.59% | -20.00% |
| Russia | 7.2% | 4.9% | 3.7% | 3.1% | 2.6% | -14.69% | -23.02% |
| Ukraine | 17.6% | 13.1% | 9.9% | 7.4% | 6.5% | -11.89% | -21.25% |
| EA10 total/average | 9.2% | 6.3% | 4.7% | 3.8% | 3.3% | -13.08% | -22.82% |
| Note: figures show ATM withdrawals as a percentage of total transactions. | |||||||
| Note: Belarus and Uzbekistan are excluded due to absence of data | |||||||
| Note: Georgian figures include bill payments at banks. | |||||||
| Source: national central banks, BIS. | |||||||