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- 84% of Azerbaijani SMEs say digital and online payments are important for business growth
- 53% identify easier access to financial services and credit as the area with the highest potential for growth
- 54% are already taking steps to facilitate digital payments and modernize their operations
Azerbaijani small and medium-sized enterprises (SMEs) are actively embracing digital transformation as they look to strengthen their businesses and unlock future growth, according to the latest Mastercard SME Confidence Index.
The study found that 84% of SMEs in Azerbaijan consider digital and online payments important for helping their business grow, while more than half (53%) identify easier access to financial services and credit as the area with the highest potential for growth.
The Mastercard SME Confidence Index is a multi-market study that captures the sentiment, priorities and growth outlook of SMEs across Eastern Europe, the Middle East and Africa.
Digitalization and access to finance drive growth ambitions
The findings reveal a strong appetite for digital transformation among Azerbaijani SMEs. More than half of businesses (54%) are already working to facilitate digital payments, reflecting a clear shift toward more modern and customer-focused business models.
At the same time, entrepreneurs are clear about the support they need to scale. Alongside access to finance, 45% of SMEs identify simple and user-friendly payment methods as a key growth driver, while an equal share highlight the importance of training and upskilling employees for the future.
A resilient outlook
Despite ongoing economic pressures, Azerbaijani SMEs continue to demonstrate resilience. Just over half of respondents (51%) describe the current economic environment as positive, while 50% remain confident about their business outlook over the next 12 months. The findings suggest that businesses remain focused on growth opportunities while taking practical steps to strengthen and modernize their operations.
Supporting Azerbaijan’s digital economy
Mastercard continues to work with public and private sector partners to support the digital transformation of businesses across Azerbaijan.
Through the Cashless Azerbaijan program, launched in partnership with the Central Bank of Azerbaijan, Mastercard has been supporting the expansion of digital payments and accelerating the country's transition toward a more digital economy.
Building on this momentum, Mastercard and the Central Bank of Azerbaijan recently published the joint study The Next Wave of Digitization in Azerbaijan, which identifies SMEs as an important driver of the country's digital economic development and outlines opportunities to further expand payment acceptance.
Mastercard is also working with banks, fintechs and ecosystem partners to broaden access to innovative financial solutions, enhance cross-border payments and introduce new digital payment products.
As SMEs continue to adapt and grow, the Mastercard SME Confidence Index highlights both their resilience and their readiness to embrace new opportunities. Through trusted technology, strategic partnerships and digital expertise, Mastercard remains committed to supporting Azerbaijani businesses on their growth journey.
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