This was stated by Epoint Director Zeynal Karimzade at the event "Digital Financial Agenda of Azerbaijan".
According to Karimzade, the forecast is based on the current dynamics of market development.
"If in 2025 the volume of e-commerce amounted to 86 billion manats, then by the end of 2026 the figure is expected to be at the level of 90 billion manats. After the pandemic, the e-commerce market showed noticeable growth, and the development of fintech companies played a significant role in this process.
According to the State Tax Service, there are 882,000 active taxpayers in Azerbaijan, of which 822,000 are small and medium-sized businesses," he said.
According to him, the current level of digitalization of entrepreneurs remains below one percent:
"This means that great opportunities open up for fintech companies, since in the future these entrepreneurs will switch to digital services. A significant part of the market still accounts for informal forms of payment, including card-to-card transfers, cash payments and transfers through electronic wallets," added Karimzade.
He expressed hope that in the coming years and even months, an increasing volume of such transactions will move into the official digital segment, which will create new opportunities for the development of the fintech market.
The director of Epoint reported that the growth dynamics of e-commerce volume and the number of transactions differ, which also reflects current market trends.