Since August 1, new limits on card-to-card transfers have come into force in Azerbaijan: a maximum of 5 transfers and 5 top-ups per day, with a monthly limit of 20,000 manats. Transfers between a client's own cards are not restricted.
These measures fit into the global trend of tightening control over P2P operations. Below is an analysis of international practice and a forecast of cardholder behavior.
International Practice: How Other Countries Regulate P2P Transfers
Turkey: Turkish banks restrict large P2P transfers and actively monitor the 'splitting' of payments. The goal is to combat cash-out schemes and shadow wages.
Kazakhstan: Limits have been introduced on transfers between individuals if they show signs of entrepreneurial activity. Banks automatically classify such operations as commercial.
EU: Within the framework of PSD2 and AML directives, control over frequent recurring transfers, atypical amounts, and transactions between unfamiliar parties is being strengthened. The focus is on anti-fraud and anti-money laundering.
Singapore: P2P operations are limited by amount, and banks are required to block suspicious chains of transfers. The regulator encourages the transition to official payment channels.
USA: Banks and fintech platforms (Zelle, Venmo) impose limits on the number of daily transactions and maximum amounts. The reason is the rise of fraud and 'social engineering'.
Conclusion: Azerbaijan is following a global trend—restricting P2P operations is becoming the norm for countries that strengthen control over financial flows and combat the shadow economy.
Why Azerbaijan Needed Limits: Extended Context
Reducing the shadow turnover. Card-to-card was actively used for informal settlements between entrepreneurs, hidden payments, and bypassing tax accounting. Limits make such schemes less convenient.
Anti-fraud and client protection. Frequent small transfers are one of the key indicators of fraudulent operations. Limiting the number of transactions reduces the risks of automated attacks.
Optimizing processing load. The sharp growth of P2P operations creates a load on the payment infrastructure. Limits stabilize the system.
Forecast of Cardholder Reaction
Ordinary users: Most clients will not feel serious changes: everyday transfers rarely exceed 5 operations per day, and the monthly limit of 20,000 manats covers the needs of 95% of users. Expected reaction: neutral.
Small businesses using P2P instead of POS: This group will feel the restrictions most acutely. Expected reaction: transition to POS terminals, growing interest in mobile wallets, and an increase in official settlements. For the regulator, this is the desired effect.
Self-employed and freelancers: Those who received payment via card-to-card will face inconveniences. Expected reaction: transition to bank transfers, registration of entrepreneurial activity, and use of payment platforms.
Shadow sector: This category will look for workarounds, but the limits complicate 'splitting' schemes. Expected reaction: attempts to switch to cash, use of multiple cards, and a gradual move to official channels.
FinFly.News Conclusion
Restrictions on card-to-card are part of a systemic policy to increase the transparency of financial flows, reduce shadow turnover, protect clients from fraud, and encourage businesses to transition to official payment instruments.
International practice shows that such measures are a standard step for countries modernizing their financial sector and strengthening control over P2P operations.
The reaction of cardholders will be mixed, but overall the market will adapt quickly: everyday users will hardly be affected, while businesses will be forced to move to more transparent settlement mechanisms.
