Azerbaijan’s ASB bank said it has sold 5,000
of its interest-free instalment credit card – the Extra Card –
since it was launched two months ago.

The co-branded ASB-MasterCard card allows
users to pay for good and services with customised and
interest-free instalments over a year, in Azerbaijan and

Eldair Jabrailov head of plastic cards at ASB
told Cards International that the product targets the
Azerbaijani middle class. “If people want to buy goods that are a
little bit expensive, such as laptops or TVs, they may not be able
to afford to pay the whole amount the at the end of the month, as
happens with other credit cards,” he said. “But with Extra Card,
they can spread the payments over a year, and they can afford to
buy those goods more easily.”

Jabrailov said cardholders setting up
instalments also earn rewards, redeemable in 90 partner merchants,
designed to spurring the use of cards in the country.

Azerbaijan is progressively moving towards
cashless payment methods. In April 2012, MasterCard said it was
introducing its contactless payment technology PayPass in the
country. Earlier this year Azerbaijani authorities also announced
plans to improve the country’s cards and payments infrastructure to
tackle corruption an increase transparency in payments.

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