Discusses the most common methods of payment, such as open account, letter of credit, cash in advance, documentary collections, factoring, etc. Includes credit-rating and collection agencies in this country. Includes primary credit or charge cards used in this country.
Last Published: 7/2/2019

In many areas of the economy, retail transactions are still generally completed on a cash basis.  However, ATMs and credit/debit card payment machines are increasingly available in the retail market.  Foreign credit cards are not universally accepted.  Large transactions are accomplished through inter-bank wire transfers.  Personal checks are not accepted anywhere.  All payments must be made in the local currency, the Azerbaijani manat.  Azerbaijan has established a credit-rating agency, but credit-rating and collections are not yet well-developed in Azerbaijan.

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