Tuesday, June 22 2010 17:52
Armeconombank buys embosser and is going to start making plastic cards on its own
ArmInfo. Armeconombank buys embosser and is going to start making plastic cards on its own.
Head of the Plastic Card Department of Armeconombank Vardan Yeghiazaryan says that the bank is also planning to use the device for printing the PIN-codes of its cards.
Armeconombank is not going to withdraw from the ArCa processing center but, if need be, may create its own processing facility. The embosser will save the bank 30% of the relevant expenses. "Processing center is a very complex structure requiring big human and financial resources and needing active promotion. ArCa already has certain reputation due to its active efforts and the Central Bank's support," says Yeghiazaryan.
To note, 66% of ArCa's shares belong to the Central Bank of Armenia with each of the 17 member banks holding 2% of the rest.
Yeghiazaryan also says that by the end of this year Armeconombank is going to increase the number of its plastic cards by 20%. As of June 1 2010 Armeconombank had 95,965 active cards (21% growth in Jan-May 2010), of which 74,194 were ArCas (8.2% growth), 21,371 - MasterCards (99% growth). 80% of the cards were salary cards due to cooperation with 682 organizations.
As of late May 2010 the positive balance on the bank's card accounts totalled 3.348bln AMD, the negative balance - 1.452bln AMD. In May 2010 the amount of cash transactions via bancomats totalled 3.174bln AMD (86,975 transactions), via POS-terminals - 434.6mln AMD (7,075 transactions). The bank has 54 bancomats and 230 POS-terminals.
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