ARMENIA CARD INTRODUCED

[MosJan]

ARMENIA CARD INTRODUCED

Armenia became the first country in the South Caucasus to have introduced The Unified Payment System, called Armenia Card) ArCa). It was introduced on Friday and is supposed to reduce the cash turnout and bring additional assets to the banking sector.

 

 

Central Bank governor Tigran Sargisian described introduction of ArCa as a “revolutionary step.” The Armenian Card is expected to be certified by Europay next year.

 

 

More than 1,000 cards have been already issued, and three automatic teller machines have been installed in addition to twenty other offices where card owners can get cash. Armenia Card is also served in 22 shops and restaurants.

 

 

Seven other automatic tellers machines will be soon installed and the network of shops and restaurants serving the cards will enlarge to 200. The Armenia Cards can be purchased at 2,000 Drams, (less than $2), annual service fee is also 2,000 Drams.

 

 

The unified payment system will be operating in Yerevan so far, but it will involve other Armenian regions and also Nagorno Karabagh in future. The executive director of the Armenian Card Shahen Hovanisian said that creation of the Armenian Card became possible due to efforts of 11 local commercial banks, led by the

 

 

Central Bank, which holds 44 percent of stakes. The rest 56 percent of stakes is equally distributed among 11 commercial banks. Hovanisian also praised the USAID for granting $1.5 million and other assistance to design and introduce the system.

 

 

By Gayane Mukoyan

 

© Copyright AZG

[Harut]

maladets kupets.