Azerbaijan reports Visa transaction surge as emerging markets forecast to outpace developed economies by 2026

The Central Bank of Azerbaijan disclosed that resident financial institutions processed 159.3 million Visa card transactions in May, amounting to 7.96 billion manat – a 28.3 % rise in transaction count and a 13.7 % increase in value compared with the same period last year. Non‑resident Visa activity was modest, with 839 thousand transactions worth 74.5 million manat. The total number of active payment cards grew by 12 % to roughly 22.8 million, driven by new digital services such as Click to Pay, tokenisation, Tap‑to‑Phone and Visa Direct, which expand contact‑less and cross‑border payments.

Separately, the International Monetary Fund projects that emerging and developing economies will grow about 4 % in 2026, outpacing the 1.7‑1.8 % growth expected for advanced economies. The forecast highlights the accelerating role of digital platforms, AI and big‑data analytics. While India is forecast to expand 6‑6.5 %, ASEAN nations attract over US$200 billion in foreign investment, and Africa’s youthful population fuels consumption growth. Azerbaijan is positioning itself as a strategic logistics hub linking Europe and Asia; its non‑oil sector now accounts for more than 67 % of GDP, reinforcing its transition toward a diversified, digital‑enabled economy.